Exchange rate policy and the management of official and private capital flows in Africa /
Saved in:
| Author / Creator: | Buffie, Edward F., author. |
|---|---|
| Imprint: | [Washington, D.C] : International Monetary Fund, Research Dept., 2004. |
| Description: | 1 online resource (53 pages) : illustrations |
| Language: | English |
| Series: | IMF working paper ; WP/04/216 IMF working paper ; WP/04/216. |
| Subject: | |
| Format: | E-Resource Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12497133 |
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| 100 | 1 | |a Buffie, Edward F., |e author. |0 http://id.loc.gov/authorities/names/n00099984 | |
| 245 | 1 | 0 | |a Exchange rate policy and the management of official and private capital flows in Africa / |c prepared by Edward Buffie, Christopher Adam, Stephen O'Connell, and Catherine Pattillo. |
| 260 | |a [Washington, D.C] : |b International Monetary Fund, Research Dept., |c 2004. | ||
| 300 | |a 1 online resource (53 pages) : |b illustrations | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF working paper ; |v WP/04/216 | |
| 504 | |a Includes bibliographical references (pages 50-53). | ||
| 506 | |3 Use copy |f Restrictions unspecified |2 star |5 MiAaHDL | ||
| 533 | |a Electronic reproduction. |b [Place of publication not identified] : |c HathiTrust Digital Library, |d 2010. |5 MiAaHDL | ||
| 538 | |a Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. |u http://purl.oclc.org/DLF/benchrepro0212 |5 MiAaHDL | ||
| 583 | 1 | |a digitized |c 2010 |h HathiTrust Digital Library |l committed to preserve |2 pda |5 MiAaHDL | |
| 588 | 0 | |a Print version record. | |
| 520 | 8 | |a Annotation |b We focus on the management of highly persistent shocks to aid flows, including PRSP-related increases in net inflows, in three post-stabilization. African economies with de jure flexible exchange rates. Such shocks have beneficent long-run effects, but when currency substitution is high they can produce dramatic macroeconomic management problems in the short run. What is the appropriate mix of money and exchange rate targeting in such cases, and what is the role of temporary sterilization? We analyze these issues in an intertemporal optimizing model that allows a portion of aid to be devoted to reducing the governments seigniorage requirement. This creates a strong link between official aid flows and private capital flows. When the credibility of policymakers commitment to low inflation is firm, some degree of dirty floating, with little or no sterilization of increases in the monetary base, is the most attractive approach in the short run. | |
| 505 | 0 | |a Contents -- I. INTRODUCTION -- II. COUNTRY EXPERIENCES -- III. THE CORE STRUCTURE OF THE MODEL -- IV. THE STEADY-STATE OUTCOME -- V. FLEXIBLE EXCHANGE RATES -- VI. A CRAWLING PEG -- VII. STICKY PRICES -- VIII. POLICY IMPLICATIONS -- IX. TEMPORARY STERILIZATION -- X.A MANAGED FLOAT -- XI. CONCLUDING REMARKS -- References | |
| 546 | |a English. | ||
| 650 | 0 | |a Foreign exchange rates |z Africa |x Econometric models. | |
| 650 | 0 | |a Capital movements |z Africa |x Econometric models. | |
| 650 | 0 | |a Economic assistance |z Africa. | |
| 650 | 0 | |a Monetary policy |z Africa. | |
| 650 | 0 | |a Currency substitution |z Africa |x Econometric models. | |
| 650 | 6 | |a Politique monétaire |z Afrique. | |
| 650 | 6 | |a Taux de change |x Effets de la politique monétaire sur |z Afrique |x Modèles économétriques. | |
| 650 | 6 | |a Substitution monétaire |z Afrique |x Modèles économétriques. | |
| 650 | 6 | |a Banques centrales |z Afrique. | |
| 650 | 6 | |a Taux de change |z Afrique |x Modèles économétriques. | |
| 650 | 6 | |a Mouvements de capitaux |z Afrique |x Modèles économétriques. | |
| 650 | 6 | |a Aide économique |z Afrique. | |
| 650 | 7 | |a Capital movements |x Econometric models. |2 fast |0 (OCoLC)fst00846376 | |
| 650 | 7 | |a Economic assistance. |2 fast |0 (OCoLC)fst00901592 | |
| 650 | 7 | |a Foreign exchange rates |x Econometric models. |2 fast |0 (OCoLC)fst00931818 | |
| 651 | 7 | |a Africa. |2 fast |0 (OCoLC)fst01239509 | |
| 655 | 4 | |a Electronic books. | |
| 700 | 1 | |a Adam, Christopher, |e author. |0 http://id.loc.gov/authorities/names/n92004590 | |
| 700 | 1 | |a O'Connell, Stephen |c (Economist), |e author. | |
| 700 | 1 | |a Pattillo, Catherine, |e author. | |
| 710 | 2 | |a International Monetary Fund. |b Research Department, |e issuing body. |0 http://id.loc.gov/authorities/names/n77001219 | |
| 776 | 0 | 8 | |i Print version: |t Exchange rate policy and the management of official and private capital flows in Africa. |d [Washington, D.C] : International Monetary Fund, Research Dept., 2004 |w (OCoLC)59992330 |
| 830 | 0 | |a IMF working paper ; |v WP/04/216. |0 http://id.loc.gov/authorities/names/no89010263 | |
| 856 | 4 | 0 | |u http://elibrary.imf.org/view/journals/001/2004/216/001.2004.issue-216-en.xml |y INTERNATIONAL MONETARY FUND |
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| 928 | |t Library of Congress classification |a HG3881.5.I58W67 no.04/216 |l Online |c UC-FullText |u http://elibrary.imf.org/view/journals/001/2004/216/001.2004.issue-216-en.xml |z INTERNATIONAL MONETARY FUND |g ebooks |i 12141164 | ||