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Item Details
| Title:
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MANAGED FLEXIBILITY OF G-3 EXCHANGE RATES: OXYMORON OR OPPORTUNITY?
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| By: |
Marcus Miller, Paul R. Krugman |
| Format: |
Paperback |
| List price:
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£0.50 |
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We currently do not stock this item, please contact the publisher directly for
further information.
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| ISBN 10: |
0881322814 |
| ISBN 13: |
9780881322811 |
| Publisher: |
THE PETERSON INSTITUTE FOR INTERNATIONAL ECONOMICS |
| Pub. date: |
1 September, 1999 |
| Description: |
This study of the target zone alternative covers such topics as the increase in private capital flow and the relationship between the G-7/G-3 currency arrangements and the Asian crisis. The authors also consider less structured ideas, including quiet zones, reference values and monitoring zones. |
| Synopsis: |
The G-7 have had serious discussions about the exchange rate system among the world's key currencies, including the euro. A majority of G-7 governments (France, Germany, Italy and Japan) favour adoption of more systematic, yet informal, management techniques. However, the US government and all G-7 central banks appear to oppose any significant changes in the present regime. This study updates the Institute's previous work on the target zone alternative, taking into account the dramatic increase in private capital flow, the lessons from variants of that approach that have been pursued in recent years (such as the post-1999 European Monetary System), and the relationship between G-7/G-3 currency arrangements and the Asian/global crisis. Miller and Krugman consider a variety of less structured ideas that go beyond the "ad hoc" approach but avoid some of the criticisms of the target zones, including: quiet zones; reference values (the French idea for agreeing on central rates without any bands or policy obligations); monitoring zones; and purely consultative schemes as proposed to the G-7 by the French and German governments. |
| Publication: |
US |
| Imprint: |
Institute for International Economics,U.S. |
| Returns: |
Non-returnable |
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