Matches in SemOpenAlex for { <https://semopenalex.org/work/W3122552011> ?p ?o ?g. }
Showing items 1 to 77 of
77
with 100 items per page.
- W3122552011 abstract "Although there seems to be a broad consensus among economists that purely floating or completely fixed exchange rates (the so-called corner solutions) are the only viable alternatives of exchange rate management, many countries do not behave according to this paradigm and adopt a strategy within the broad spectrum of exchange rate regimes that is limited by the two corner solutions. These intermediate regimes are characterized by significant foreign exchange market interventions of central banks and a certain degree of exchange rate flexibility. We develop a new empirical methodology that identifies three different forms of floating on the basis of a central bank's intervention activity: pure floating (no interventions), independent floating (exchange rate smoothing), and managed floating (exchange rate targeting). Our cross-country study shows that exchange rate targeting is at least as important as exchange rate smoothing. Subsequently we present a monetary policy framework in which central banks use the exchange rate as an operating target of monetary policy. We explain the mechanics of interventions and sterilization and we explain why a central bank has an interest in controlling simultaneously the exchange rate and the short-term interest rate. We derive the monetary policy rules for our two operating targets from a simple open economy macro model in which the uncovered interest parity condition and the Monetary Conditions Index play a central role." @default.
- W3122552011 created "2021-02-01" @default.
- W3122552011 creator A5067523475 @default.
- W3122552011 creator A5072174907 @default.
- W3122552011 date "2001-11-01" @default.
- W3122552011 modified "2023-09-27" @default.
- W3122552011 title "Managed floating: Understanding the new international monetary order" @default.
- W3122552011 hasPublicationYear "2001" @default.
- W3122552011 type Work @default.
- W3122552011 sameAs 3122552011 @default.
- W3122552011 citedByCount "32" @default.
- W3122552011 countsByYear W31225520112012 @default.
- W3122552011 countsByYear W31225520112013 @default.
- W3122552011 countsByYear W31225520112014 @default.
- W3122552011 countsByYear W31225520112017 @default.
- W3122552011 crossrefType "posted-content" @default.
- W3122552011 hasAuthorship W3122552011A5067523475 @default.
- W3122552011 hasAuthorship W3122552011A5072174907 @default.
- W3122552011 hasConcept C10138342 @default.
- W3122552011 hasConcept C126285488 @default.
- W3122552011 hasConcept C139719470 @default.
- W3122552011 hasConcept C148761745 @default.
- W3122552011 hasConcept C162324750 @default.
- W3122552011 hasConcept C175025494 @default.
- W3122552011 hasConcept C182306322 @default.
- W3122552011 hasConcept C185824701 @default.
- W3122552011 hasConcept C2776071005 @default.
- W3122552011 hasConcept C2776988154 @default.
- W3122552011 hasConcept C2780980743 @default.
- W3122552011 hasConcept C2781395280 @default.
- W3122552011 hasConcept C30087350 @default.
- W3122552011 hasConcept C536366893 @default.
- W3122552011 hasConcept C556758197 @default.
- W3122552011 hasConcept C82843974 @default.
- W3122552011 hasConceptScore W3122552011C10138342 @default.
- W3122552011 hasConceptScore W3122552011C126285488 @default.
- W3122552011 hasConceptScore W3122552011C139719470 @default.
- W3122552011 hasConceptScore W3122552011C148761745 @default.
- W3122552011 hasConceptScore W3122552011C162324750 @default.
- W3122552011 hasConceptScore W3122552011C175025494 @default.
- W3122552011 hasConceptScore W3122552011C182306322 @default.
- W3122552011 hasConceptScore W3122552011C185824701 @default.
- W3122552011 hasConceptScore W3122552011C2776071005 @default.
- W3122552011 hasConceptScore W3122552011C2776988154 @default.
- W3122552011 hasConceptScore W3122552011C2780980743 @default.
- W3122552011 hasConceptScore W3122552011C2781395280 @default.
- W3122552011 hasConceptScore W3122552011C30087350 @default.
- W3122552011 hasConceptScore W3122552011C536366893 @default.
- W3122552011 hasConceptScore W3122552011C556758197 @default.
- W3122552011 hasConceptScore W3122552011C82843974 @default.
- W3122552011 hasLocation W31225520111 @default.
- W3122552011 hasOpenAccess W3122552011 @default.
- W3122552011 hasPrimaryLocation W31225520111 @default.
- W3122552011 hasRelatedWork W1486142357 @default.
- W3122552011 hasRelatedWork W1495894384 @default.
- W3122552011 hasRelatedWork W1526740931 @default.
- W3122552011 hasRelatedWork W1532202951 @default.
- W3122552011 hasRelatedWork W1564549819 @default.
- W3122552011 hasRelatedWork W1564631208 @default.
- W3122552011 hasRelatedWork W1578755976 @default.
- W3122552011 hasRelatedWork W1595913457 @default.
- W3122552011 hasRelatedWork W2028626408 @default.
- W3122552011 hasRelatedWork W2035697636 @default.
- W3122552011 hasRelatedWork W2053234191 @default.
- W3122552011 hasRelatedWork W2088924802 @default.
- W3122552011 hasRelatedWork W2119942364 @default.
- W3122552011 hasRelatedWork W2266545485 @default.
- W3122552011 hasRelatedWork W3121749444 @default.
- W3122552011 hasRelatedWork W3122920447 @default.
- W3122552011 hasRelatedWork W3123101135 @default.
- W3122552011 hasRelatedWork W3123291226 @default.
- W3122552011 hasRelatedWork W3124674560 @default.
- W3122552011 hasRelatedWork W3125770312 @default.
- W3122552011 isParatext "false" @default.
- W3122552011 isRetracted "false" @default.
- W3122552011 magId "3122552011" @default.
- W3122552011 workType "article" @default.