| Registro completo |
| Provedor de dados: |
31
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| País: |
United States
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| Título: |
International Capital Markets and Informal Dollar Standards in the CIS and East Asia
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| Autores: |
Schnabl, Gunther
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| Data: |
2006-03-14
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| Ano: |
2005
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| Palavras-chave: |
CIS
East Asia
Informal Dollar Standard
Liability Dollarization
Asset Dollarization
Competitive Depreciation
Competitive Appreciation
Exchange Rate Systems
Financial Economics
F31
F32
|
| Resumo: |
Although most CIS and East Asian countries are de jure classified as free floaters, they de facto pursue (tight) dollar pegs. This paper emphasizes dollar denomination of short-term and long-term payment flows as reasons for exchange rate stabilization. Based on the analysis of "competitive depreciations" and "competitive appreciations" among the CIS and East Asian currencies it is argued that the adherence to a common external anchor currency enhances macroeconomic stability. Finally, the potential of euro and ruble (CIS) as well as yen and yuan (East Asia) to challenge the dollar as anchor currencies in the respective regions is explored.
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| Tipo: |
Working or Discussion Paper
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| Idioma: |
Inglês
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| Identificador: |
20200
http://purl.umn.edu/26192
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| Editor: |
AgEcon Search
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| Relação: |
Hamburg Institute of International Economics>Discussion Paper Series
HWWA Discussion Paper 326
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| Formato: |
29
application/pdf
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