Titlebook: Exchange Rate Regimes and Macroeconomic Stability; Lok-Sang Ho,Chi-Wa Yuen Book 2003 Kluwer Academic Publishers 2003 Bretton Woods.financi

慢跑

ASTER

Introductionkets. This does seem rather strange, given that the Bretton Woods system—itself the result of a major international effort to bring stability to the world’s international monetary system—was born in 1944 more than half a century ago, and that both the World Bank and the IMF, institutions set up unde

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Misnomer

Perigee

Does Asia Need a Common Currency? is the New Economy. The New Economy underlies the big change in the United States that made possible a sudden jump--up from a two and a half percent average sustainable growth rate that most economists thought was the maximum, to something in the order of 5% growth rate, temporary as it may have be

煉油廠

Recommending a Currency Basket System for Emerging East Asia region in the immediate future. It focuses on the role of the US dollar, the Japanese yen, and the euro as anchor currencies in the exchange rate policies of these economies. The chapter claims that the dollar’s role as the dominant anchor for exchange rate stabilization in crisis-affected East Asi

Chagrin

meretricious

Contemplating the Credibility of Currency Boardsources of information and angles of approach, we try to facilitate a deeper and broader treatment so as to provide a different perspective, to bridge some of the gaps between theory and practice, and ultimately to shed some light on whether a currency board is indeed a useful credibility-enhancing d

討好美人

Currency Board, Asian Financial Crisis, and the Case for Put OptionsIt is shown that the conventional defense mechanism via interest arbitrage has not functioned properly. An alternative approach of issuing put options to strengthen the currency board is evaluated. We show that the “technical” measures eventually undertaken by the Hong Kong Monetary Authority (HKMA)

Arrhythmia

The Currency Board in Hong Kong: Operational Weaknesses and A Proposed Refinement Schemein 1997/1998. However, the actual operation of Hong Kong’s currency board system was perhaps very different from the general public’s perception. This chapter is to explore the major operational weaknesses of Hong Kong’s currency board system during the Asian financial crisis. Not only did those wea