Estimating Equilibrium Exchange Rates

Released on by John Williamson
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  • Estimating Equilibrium Exchange Rates Book Detail

  • Author : John Williamson
  • Release Date : 1994
  • Publisher : Peterson Institute
  • Genre : Business & Economics
  • Pages : 608
  • ISBN 13 : 9780881320763
  • File Size : 71,71 MB
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Estimating Equilibrium Exchange Rates by John Williamson PDF Summary

Book Description: The problems of exchange rate misalignments and the resulting payments imbalances have plagued the world economy for decades. At the Louvre Accord of 1987, the Group of Five industrial countries adopted a system of reference ranges for exchange rate management, influenced by proposals of C. Fred Bergstan and John Williamson for a target zone system. The reference range approach has, however, been operated only intermittently and half-heartedly, and questions continue to be raised in policy and scholarly circles about the design and operation of a full-fledged target zone regime. This volume, with chapters by leading international economists, explores one crucial issue in the design of a target zone system: the problem of calculating Williamson's concept of the fundamental equilibrium exchange rate (FEER). Williamson contributes an overview of the policy and analytic issues and a second chapter on his own calculations.

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Estimating Equilibrium Exchange Rates

Estimating Equilibrium Exchange Rates

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The problems of exchange rate misalignments and the resulting payments imbalances have plagued the world economy for decades. At the Louvre Accord of 1987, the

Equilibrium Exchange Rates

Equilibrium Exchange Rates

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How successful is PPP, and its extension in the monetary model, as a measure of the equilibrium exchange rate? What are the determinants and dynamics of equilib