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External Stability Under Alternative Nominal Exchange Rate Anchors
Mr.S. Nuri ErbasMr.Zubair Iqbal
其他書名
An Application to the GCC Countries
出版International Monetary Fund, 1997-01-01
主題Business & Economics / Exports & ImportsBusiness & Economics / Money & Monetary PolicyBusiness & Economics / Foreign Exchange
ISBN14519279089781451927900
URLhttp://books.google.com.hk/books?id=FogYEAAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋Import and export stability is examined under two alternative nominal exchange rate anchors, the U.S. dollar and the SDR. Stability under the two pegs depends critically on import and export elasticity with respect to exchange rates. The implications of import and export elasticity for an optimal currency basket are also explored. The elasticity estimates for the GCC countries suggest that the SDR peg may not outperform the dollar peg in improving external stability. Nevertheless, switching to some other nominal exchange rate anchor may improve external stability, a possibility that remains to be explored.