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portada Estimating Equilibrium Exchange Rates
Type
Physical Book
Publisher
Author
Year
1994
Language
English
Pages
300
Format
Paperback
Weight
0.95
ISBN
0881320765
ISBN13
9780881320763
Categories

Estimating Equilibrium Exchange Rates

John (Edt) Williamson (Author) · Peterson Institute For International Economics · Paperback

Estimating Equilibrium Exchange Rates - john (edt) williamson

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Synopsis "Estimating Equilibrium Exchange Rates "

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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