Limiting Exchange Rate Flexibility: The European Monetary System

Langue : anglais

Edité par The MIT Press, 1989

0262071169 / 9780262071161

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A propos de cet article

Volume, measuring approximately 6.5" x 9.5", is bound in black cloth, with stamped white lettering to spine. Book is like new. Numerous tables and graphs. xi/230 pages. "Events of recent years have exacerbated the dissatisfaction with the performance of flexible exchange rates, and prompted a number of proposals to limit exchange rate fluctuations among industrialized countries. This book provides the first in depth analysis of the European Monetary System (EMS), the only lasting experiment of this kind. The book's careful blend of theory and empirical analysis supports the view that, in Europe, nominal exchange rate targets have had significant real effects. Its detailed description of European economic institutions shows why exchange rate fluctuations are perceived as especially harmful. Giavazzi and Giovannini explain the institutional features of the EMS and describe how central banks run the system in practice. They offer an illuminating analysis of European capital controls and show how such regulations have guaranteed the survival of the EMS in a period characterized by unprecedented dollar fluctuations. The authors point out the lessons to be drawn from this experience with the EMS for the more general problem of reforming the international monetary system. Their forceful arguments are backed by analysis of such important issues as the determinants of international capital flows and international portfolio diversification, and the role of credibility and expectations in disinflation. Francesco Giavazzi is Professor of Economics at the University of Bologna. Alberto Giovannini is Associate Professor at the Columbia University Graduate School of Business.".…

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Titre
Limiting Exchange Rate Flexibility: The European Monetary System
Auteur
Francesco Giavazzi, Alberto Giovannini
Éditeur
The MIT Press
Année de publication
1989
État de l'article
As New
Reliure
Hardcover
Langue
anglais
ISBN à 10 chiffres
0262071169
ISBN à 13 chiffres
9780262071161
Édition
1st Edition

Palimpsest Scholarly Books & Services

Brooktondale, NY, Etats-Unis

Vendeur avec une évaluation de 5 étoiles

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Article5 à 14 jours ouvrés3 à 6 jours ouvrés
Premier articleEUR 5,81EUR 22,34
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