To peg or not to peg : a template for assessing the nobler / prepared by Aasim M. Husain.
This paper proposes a template for assessing whether or not a country's economic and financial characteristics make it an appropriate candidate for a pegged exchange rate regime. The template employs quantifiable measures of attributes-trade orientation, financial integration, economic diversif...
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| Online Access: |
Full Text (via ProQuest) |
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| Main Author: | |
| Format: | eBook |
| Language: | English |
| Published: |
[Washington, D.C.] :
International Monetary Fund,
2006.
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| Series: | IMF working paper ;
WP/06/54. |
| Subjects: |
| Summary: | This paper proposes a template for assessing whether or not a country's economic and financial characteristics make it an appropriate candidate for a pegged exchange rate regime. The template employs quantifiable measures of attributes-trade orientation, financial integration, economic diversification, macroeconomic stabilization, credibility, and "fear-offloating" type effects-that have been identified in the literature as key potential determinants of regime choice. To illustrate, the template is applied to Kazakhstan and Pakistan. The results indicate a fairly strong case against a pegged regime in Pakistan. The implications for Kazakhstan are mixed, although changes in that economy in recent years strengthen the case against a peg. |
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| Physical Description: | 1 online resource (27 pages) |
| Bibliography: | Includes bibliographical references. |
| ISBN: | 1283515709 9781283515702 9781451908503 1451908504 |
| Source of Description, Etc. Note: | Source of description: Print version record. |