Exchange rate choices of microstates /
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| 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: | |
| Format: | E-Resource Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12499593 |
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| 100 | 1 | |a Imam, Patrick, |e author. |0 http://id.loc.gov/authorities/names/no2006084064 | |
| 245 | 1 | 0 | |a Exchange rate choices of microstates / |c prepared by Patrick Imam. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2010. | ||
| 300 | |a 1 online resource (46 pages) : |b color 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, |x 2227-8885 ; |v WP/10/12 | |
| 500 | |a At head of title: Monetary and Capital Markets Department. | ||
| 500 | |a "January 2010." | ||
| 504 | |a Includes bibliographical references. | ||
| 520 | 3 | |a 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. | |
| 588 | 0 | |a Print version record. | |
| 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 2011. |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 2011 |h HathiTrust Digital Library |l committed to preserve |2 pda |5 MiAaHDL | |
| 505 | 0 | |a I. Introduction; II. What Is a Microstate?; III. Why Do Microstates Choose Independence?; A. The Cost of Being a Microstate; Higher Costs; Higher Risks; B. The Benefits of Being a Microstate; Better Accommodation of Preferences; C. Choice of Independence; IV. Choosing Exchange Rate Policy in Microstates; A. Problems of Floating Exchange Rate in Microstates; B. Advantages of Hard Pegs in Microstates; V. Why Do Microstates Choose a Given Form of Hard Peg?; A. Dollarization; B. Currency Board Arrangements; C. Fixed Exchange Rates; D. How Do the Different Hard Pegs Compare? | |
| 505 | 8 | |a VI. Econometric EstimationA. Variables Used; B. Data Problems; C. Estimation Technique; D. Results; VII. Conclusion; VIII. References. | |
| 546 | |a English. | ||
| 650 | 0 | |a States, Small |x Econometric models. | |
| 650 | 0 | |a Currency question |x Econometric models. | |
| 650 | 0 | |a Dollarization |x Econometric models. | |
| 650 | 0 | |a Foreign exchange rates |x Econometric models. | |
| 650 | 6 | |a Petits États |x Modèles économétriques. | |
| 650 | 6 | |a Dollarisation |x Modèles économétriques. | |
| 650 | 6 | |a Taux de change |x Modèles économétriques. | |
| 650 | 7 | |a Currency question |x Econometric models. |2 fast |0 (OCoLC)fst00885333 | |
| 650 | 7 | |a Foreign exchange rates |x Econometric models. |2 fast |0 (OCoLC)fst00931818 | |
| 655 | 0 | |a Electronic books. | |
| 655 | 4 | |a Electronic books. | |
| 710 | 2 | |a International Monetary Fund. |b Monetary and Capital Markets Department, |e issuing body. |0 http://id.loc.gov/authorities/names/no2006113696 | |
| 776 | 0 | 8 | |i Print version: |a Imam, Patrick. |t Exchange rate choices of microstates. |d [Washington, D.C.] : International Monetary Fund, ©2010 |w (OCoLC)502039192 |
| 830 | 0 | |a IMF working paper ; |v WP/10/12. |0 http://id.loc.gov/authorities/names/no89010263 | |
| 856 | 4 | 0 | |u http://elibrary.imf.org/view/journals/001/2010/012/001.2010.issue-012-en.xml |y INTERNATIONAL MONETARY FUND |
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