Exchange Rates, Capital Flows, and Monetary Policy in a Changing World Economy: Proceedings of a Conference Federal Reserve Bank of Dallas Dallas, Tex

ISBN-13: 9781461378310 / Angielski / Miękka / 2012 / 242 str.

William C. Gruben; David M. Gould; Carlos E. Zarazaga

Opis

The dramatic growth of international capital flow has provided unprecedented opportunities and risks in emerging markets. This book is the result of a conference exploring this phenomenon, sponsored by the Federal Reserve Bank of Dallas. The issues explored include direct versus portfolio investment; exchange rates and economic growth; and optimal exchange rate policy for stabilizing inflation in developing countries. It concludes with a panel discussion on central bank coordination in the midst of exchange rate instability.

Spis treści

Preface. I. Exchange Rates and Monetary Policy. II. Optimal Exchange Rate Policy for Stabilizing Inflation in Developing Countries. Appendix: Exchange Rate Policy and Macroeconomic Stability. III. Exchange Rates and Economic Growth. Appendix: Description of the Data. IV. Speculative Attacks. Appendix: Foreign Exchange Hedging with Synthetic Options and the Interest Rate Defense of a Fixed-Exchange-Rate Regime; Peter M. Garber, Michael G. Spencer. V. Exchange Rates, Capital Flows, Monetary Policy and a Changing World Economy. VI. International Capital Flows: Direct vs. Portfolio Investment. Appendix A: A Survey of Academic Literature on Controls over International Capital Transactions; Michael P. Dooley. Appendix B: Are Recent Capital Inflows to Developing Countries a Vote For or Against Economic Policy Reforms? Michael P. Dooley. VII. Panel Discussion: Central Bank Coordination in the Midst of Exchange Rate Instability.