Review Currency Boards, Credibility, and Macroeconomic Behavior

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Currency Boards, Credibility, and Macroeconomic Behavior High quality books

Currency Boards, Credibility, and Macroeconomic Behavior
By:Luis Rivera-Batiz,Amadou N. R. Sy
Published on 2000-06-01 by International Monetary Fund

Currency boards operate differently from standard pegs. The former exhibit greater currency stability and lower transaction costs, inflation, and nominal interest rates, but are limited in their use of devaluation. We extend Drazen and Masson’s (1994) signaling model to consider the choice between currency board arrangements and standard pegs. The model shows that currency boards’ effectiveness hinges on their credibility properties and that they can improve welfare even with high unemployment persistence. By reducing expected inflation and the negative employment effect arising from expected but unrealized inflation, currency boards can produce less unemployment than peg regimes that abstain from devaluation.

This Book was ranked at 15 by Google Books for keyword Currency.

Book ID of Currency Boards, Credibility, and Macroeconomic Behavior's Books is OizPxw60ZdEC, Book which was written byLuis Rivera-Batiz,Amadou N. R. Syhave ETAG "AvoQxNfj7GE"

Book which was published by International Monetary Fund since 2000-06-01 have ISBNs, ISBN 13 Code is and ISBN 10 Code is

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Book which have "45 Pages" is Printed at BOOK under CategoryCurrency boards

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