Exchange rate policy and interdependence : perspectives from the Pacific basin
Author(s)
Bibliographic Information
Exchange rate policy and interdependence : perspectives from the Pacific basin
Cambridge University Press, 1994
Available at 51 libraries
  Aomori
  Iwate
  Miyagi
  Akita
  Yamagata
  Fukushima
  Ibaraki
  Tochigi
  Gunma
  Saitama
  Chiba
  Tokyo
  Kanagawa
  Niigata
  Toyama
  Ishikawa
  Fukui
  Yamanashi
  Nagano
  Gifu
  Shizuoka
  Aichi
  Mie
  Shiga
  Kyoto
  Osaka
  Hyogo
  Nara
  Wakayama
  Tottori
  Shimane
  Okayama
  Hiroshima
  Yamaguchi
  Tokushima
  Kagawa
  Ehime
  Kochi
  Fukuoka
  Saga
  Nagasaki
  Kumamoto
  Oita
  Miyazaki
  Kagoshima
  Okinawa
  Korea
  China
  Thailand
  United Kingdom
  Germany
  Switzerland
  France
  Belgium
  Netherlands
  Sweden
  Norway
  United States of America
Note
Includes bibliographical references and index
Description and Table of Contents
Description
Why countries choose different exchange rate arrangements and how these arrangements affect domestic monetary policy control and macroeconomic stability are questions of substantial interest to policy makers and researchers alike. The countries of the Pacific Basin region offer a wide variety of examples for the comparative study of the implications of different exchange rate arrangements. The essays in this volume examine the degree of financial interdependence and the conduct of exchange rate and monetary policy among Pacific Basin countries. The essays address four broad issues: one, the degree of regional financial market integration in the Pacific Basin, two, the implications of choosing different exchange rate regimes for domestic macroeconomic stability, three, the effect of exchange rate intervention policy on the conduct of domestic monetary policy, and four, the prospects for a yen currency bloc. Some of the essays focus on the national experience of specific countries in the Pacific Basin; others adopt a cross-country comparison approach.
Table of Contents
- List of contributors
- Preface
- 1. Overview Reuven Glick and Michael M. Hutchison
- Part I. International Financial Market Integration: 2. Financial links around the Pacific Rim: 1982-92 Menzie D. Chinn and Jeffrey A. Frankel
- 3. Relative returns on equities in Pacific Basin countries Charles Engel and John H. Rogers
- 4. Exchange rate policy, international capital mobility and monetary policy instruments Michael P. Dooley and Donald J. Mathieson
- Part II. Choice of Exchange Rate Regimes: 5. Exchange rate management: a partial review Stephen J. Turnovsky
- 6. Exchange rate policy and insulation from external shocks: the cases of Korea and Taiwan, 1970-90 Ramon Moreno
- 7. Trade price shocks and insulation: Australia's experience with floating rates John Pitchford
- 8. The role of the exchange rate in New Zealand monetary policy Arthur Grimes and Jason Wong
- 9. Officially floating, implicitly targeted exchange rates: examples from the Pacific Basin Helen Popper and Julia Lowell
- Part III. Intervention and Sterilization Policies: 10. Monetary policy, intervention and exchange rates in Japan Reuven Glick and Michael M. Hutchison
- 11. The signaling effect of foreign exchange intervention: the case of Japan Tsutomu Watanabe
- 12. Sterilization of the monetary effects of current account surpluses and its consequences: Korea, 1986-90 Sung Y. Kwack
- Part IV. Prospects for a Yen Bloc: 13. On the possibility of a yen bloc Takatoshi Ito
- 14. Economic fundamentals and a yen currency area for Asian Pacific Rim countries Michael Melvin, Michael Ormiston and Bettina Peiers
- Index.
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