[PDF] Top 20 ← Return to Article Details Monetary policy independence and floating exchange rates:

... of exchange rate regime is more appropriate to each country is still pretty much alive within academic ...seems to be increasing consensus that floating regimes are best suited to cope ... See full document

... — and especially, Banco Nacional de Desenvolvimento Econômico e Social — BNDES –, the stated-owned development bank) operated on the credit market so as to counteract the scarcity of funds caused by the ... See full document

... of monetary policy at that time, to create a Central Bank bill indexed to the overnight interest rate in ...risk and the market would be willing to buy it when the rate of ... See full document

... resumed and the domestic currency began to appreciate again. trying to decelerate this trend, the Finance Ministry took one step back in the process of capital account liberalization, imposing a 2% ... See full document

... decision to fix the exchange rate and the size of the intervention in the foreign exchange market vis-à-vis the practical limits of monetary sterilization, for lavoie, who follows the ... See full document

... order to understand the behaviour of exchange rates in these countries, it is necessary to take into account their specific position in the contemporary inter- national monetary system ... See full document

... system, and it covered deposits in pesos with reserves in ...(Ganapolsky and Schmukler, 1998), but on the other, the shaping of a rate differential that discouraged the use of the local currency in the ... See full document

... of exchange rate policy in EGB show a distributive ...this policy acted as way of protecting/benefiting the more powerful economic and political ...the exchange rate policy in ... See full document

... best and perhaps the only route available to Brazilian po- licymakers acting on their own to restore growth and expand public goods and services in the short run must involve a ... See full document

... leads to low levels of employment and low effective demand, despite stagnating real ...relation to productive po- tential, with further tendencies to low levels of economic ...that ... See full document

... now to the exchange rate policy, where lied the bulk of dissent among ...former and, hence, potentially harmful to trade and to the generation of ...currencies and ... See full document

... enterprises to the effects of a long period of accen- tuated exchange rate ...possible to neglect that commercial openness is ...structured to promote exports, with special regards to ... See full document

... Flexible exchange rate systems provide greater maneuverability for a country’s fiscal and monetary ...lead to fluctuations in the foreign- currency value of a government’s primary surplus, ... See full document

... line and that seem relevant for the ...be to a large extent independent of the Selic rate as a result of our long experience with inflation and indexation ...interest rates that are not ... See full document

... Keynesian monetary policy proposed in this ...side to the right side and the arrows symbolize the relationship between the ...Keynesian monetary policy operates with three tools, ... See full document

... of monetary policy have become very com- plex and ...for monetary policy to anticipate the most influential ...The monetary channel is usually given ...the exchange ... See full document

... gains and losses can be significant, their volatility depends entirely on fluctuations in the nominal exchange ...stability and large interest rate differentials provide strong incentive to ... See full document

... goods, and on labour ...according to econometric tests, they have a negative impact on income distribution, especially in developing ...techniques and, as a secondary cause, the opening of the ... See full document

... globalization and democ- racy. most countries in this continent embraced markets and globalization starting around ...ImF and the world bank or by international financial ...stifled and per ... See full document

... of monetary policy. I’ve been working monetary policy for about thirty years now – my longest professional ...preoccupation. And it is here that my approach is perhaps most directly ... See full document