Data/hora: 17/06/2024 15:12:49

Provedor de dados: | 31
País: | United States
Título: | International Capital Markets and Informal Dollar Standards in the CIS and East Asia
Autores: | Schnabl,   Gunther.
Data: | 2006-03-14
Ano: | 2005
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.
Tipo: | Working or Discussion Paper
Idioma: | Inglês

Identificador:

20200

http://purl.umn.edu/26192

Editor: | AgEcon Search

Relação:

Hamburg Institute of International Economics&gt;Discussion Paper Series

HWWA Discussion Paper 326

Formato:

29

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