Exchange rate choices of microstates /

Exchange rate choices of microstates /

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Bibliographic Details
Author / Creator:	Imam, Patrick, author.
Imprint:	[Washington, D.C.] : International Monetary Fund, ©2010.
Description:	1 online resource (46 pages) : color illustrations
Language:	English
Series:	IMF working paper, 2227-8885 ; WP/10/12 IMF working paper ; WP/10/12.
Subject:	States, Small -- Econometric models. Currency question -- Econometric models. Dollarization -- Econometric models. Foreign exchange rates -- Econometric models. Currency question -- Econometric models. Foreign exchange rates -- Econometric models. Electronic books.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12499593

Hidden Bibliographic Details
Other authors / contributors:	International Monetary Fund. Monetary and Capital Markets Department, issuing body.
ISBN:	128355559X 9781283555593 1451918615 9781451918618 9781451962000 1451962002 1462351719 9781462351718 1452788391 9781452788395 9786613868046 6613868043
Notes:	At head of title: Monetary and Capital Markets Department. "January 2010." Includes bibliographical references. Restrictions unspecified Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2011. 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. http://purl.oclc.org/DLF/benchrepro0212 English. digitized 2011 HathiTrust Digital Library committed to preserve Print version record.
Summary:	In this paper we first explain why most microstates (countries with less than 2 million inhabitants) have gained independence only in the last 30 years. Despite the higher costs and risks microstates face, their ability to better accommodate local preferences combined with a more integrated world economy probably explains why the benefits of independence have risen. We explain why microstates at independence have chosen either dollarization, currency board arrangements, or fixed exchange rates rather than more flexible forms of exchange rate systems. We then, using the Geweke-Hajvassiliou-Keane multivariate normal simulator, model empirically the determinants of each of the different fixed exchange rate regimes in microstates and analyze the policy implications.
Other form:	Print version: Imam, Patrick. Exchange rate choices of microstates. [Washington, D.C.] : International Monetary Fund, ©2010
Standard no.:	10.5089/9781451918618.001

Description
Summary:	In this paper we first explain why most microstates (countries with less than 2 million inhabitants) have gained independence only in the last 30 years. Despite the higher costs and risks microstates face, their ability to better accommodate local preferences combined with a more integrated world economy probably explains why the benefits of independence have risen. We explain why microstates at independence have chosen either dollarization, currency board arrangements, or fixed exchange rates rather than more flexible forms of exchange rate systems. We then, using the Geweke-Hajvassiliou-Keane multivariate normal simulator, model empirically the determinants of each of the different fixed exchange rate regimes in microstates and analyze the policy implications.
Item Description:	At head of title: Monetary and Capital Markets Department. "January 2010."
Physical Description:	1 online resource (46 pages) : color illustrations
Format:	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.
Bibliography:	Includes bibliographical references.
ISBN:	128355559X 9781283555593 1451918615 9781451918618 9781451962000 1451962002 1462351719 9781462351718 1452788391 9781452788395 9786613868046 6613868043
ISSN:	2227-8885 ;