منابع مشابه
Exchange Rate Policy of Iran
The exchange rate regime in Iran is practically fixed. The Central Bank of Iran (CBI) has committed itself to trying to bring about a particular exchange rate regime to meet two important targets: 1. Sustaining competitiveness of the economy, 2. Acquiring the share of foreign reserves in monetary base in a predetermined level. Since 2001 the share of foreign reserves in monetary base has i...
متن کاملPolicy Time-Inconsistency: A Comparison of Managed Floating Exchange Rate and Controlled Exchange Rate Regimes
Some empirical and theoretical studies have emphasized on fixed exchange rate regime in controlling time inconsistency, while others consider the role of target zone regime as an important factor. Thus there is no general consensus to decide which exchange rate regime may bring about less time-inconsistency. The main purpose of this study is to investigate policy time-inconsistency in exchange ...
متن کاملMonetary Policy, Exchange Rate Flexibility, and Exchange Rate Pass-Through
This paper develops a dynamic general-equilibrium (DGE) model of a small open economy to investigate alternative monetary rules, differing primarily in the degree to which they allow for exchange rate flexibility. A central argument of the paper is that the nature of the trade-off between fixed and floating exchange rates may be quite different in mature industrial economies than in emerging-ma...
متن کاملChina’s Exchange Rate Policy and Asian Trade
This paper shows empirically that China’s trade balance is sensitive to fluctuations in the real effective exchange rate of the renminbi. However, the current size of the trade surplus is such that exchange rate policy alone will probably not be able to address the imbalance. The potential reduction in the trade surplus resulting from an increase in the renminbi exchange rate is limited mainly ...
متن کاملOptimal Exchange Rate Policy and Business Cycles*
Implementation and collapse of exchange rate pegging schemes are recurrent events. A currency crisis is often followed by an economic downturn while pegging often begets a boom. In this paper I study why a benevolent central bank should pursue a monetary policy that leads to those recurrent currency crises and subsequent periods of pegging. I show that the optimal policy induces a competitive e...
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ژورنال
عنوان ژورنال: Skola biznisa
سال: 2013
ISSN: 1451-6551
DOI: 10.5937/skolbiz1302057p