Exchange rate volatility under peg : do trade patterns matter? /
Saved in:
| Author / Creator: | Lonkeng Ngouana, Constant, author. |
|---|---|
| Imprint: | [Washington, D.C.] : International Monetary Fund, ©2012. |
| Description: | 1 online resource (20 pages) : color charts |
| Language: | English |
| Series: | IMF working paper ; WP/12/73 IMF working paper ; WP/12/73. |
| Subject: | |
| Format: | E-Resource Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12500118 |
MARC
| LEADER | 00000cam a2200000Ia 4500 | ||
|---|---|---|---|
| 001 | 12500118 | ||
| 006 | m o d | ||
| 007 | cr ||||||||||| | ||
| 008 | 120316s2012 dcud ob i000 0 eng d | ||
| 005 | 20240822221633.9 | ||
| 019 | |a 801381152 |a 870244950 | ||
| 020 | |a 9781475503746 | ||
| 020 | |a 1475503741 | ||
| 035 | 9 | |a (OCLCCM-CC)780283338 | |
| 035 | |a (OCoLC)780283338 |z (OCoLC)801381152 |z (OCoLC)870244950 | ||
| 040 | |a DJB |b eng |e pn |c DJB |d CUS |d DOS |d MYG |d OCLCQ |d OCLCA |d OCLCF |d E7B |d YDXCP |d OCLCQ |d EBLCP |d CUS |d OCLCQ |d OCLCA |d MERUC |d CEF |d AU@ |d OCLCQ |d OCLCO |d VT2 |d OCL |d OCLCQ |d OCLCO | ||
| 043 | |a fw----- | ||
| 049 | |a MAIN | ||
| 050 | 4 | |a HG3881.5.I58 |b W67 No. 12/73eb | |
| 050 | 4 | |a HG3986.4 |b .L66 2012eb online | |
| 100 | 1 | |a Lonkeng Ngouana, Constant, |e author. |0 http://id.loc.gov/authorities/names/no2012037787 | |
| 245 | 1 | 0 | |a Exchange rate volatility under peg : |b do trade patterns matter? / |c Constant Lonkeng Ngouana. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2012. | ||
| 300 | |a 1 online resource (20 pages) : |b color charts | ||
| 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/12/73 | |
| 500 | |a At head of title: African Department. | ||
| 500 | |a Title from PDF title page (IMF Web site, viewed March 9, 2012). | ||
| 500 | |a "March 2012." | ||
| 520 | 3 | |a This paper assesses the role of trade patterns in shaping the volatility of the effective exchange rate under two alternative peg regimes: a hard peg to a single currency and a peg to a basket of currencies. I link the changes in the nominal effective exchange rate of a pegged currency to the fluctuations of its anchor vis-a-vis other major currencies, with an emphasis on the dynamics of trade patterns. In an application to the WAEMU (West African Economic and Monetary Union), I find that the nominal effective exchange rate of the union was twice as volatile under the hard peg to the euro as it would have been under a hypothetical basket peg over the past decade. This result was driven by the substantial shifts that occurred in WAEMU trade patterns.away from euro area countries and toward the "BICs" (Brazil, India, and China). These findings suggest that policymakers should pay as much attention to the type of peg as to pegging in itself, with a particular focus on the dynamics of trade patterns. | |
| 504 | |a Includes bibliographical references (pages 19-20). | ||
| 505 | 0 | |a Cover; Abstract; Contents; I. Introduction; A. Related Literature; II. Background; A. Institutional Arrangement of the CFA Franc's Peg; B. Exchange Rate Developments in the WAEMU; C. The Dynamics of the WAEMU's Trade Patterns (1980-2010); III. Analytics; IV. Application: The WAEMU's Nominal Effective Exchange Rate; A. Data Sources and Computations; B. Quantitative Analysis; C. Sensitivity Analysis; V. Conclusion; Selected References. | |
| 610 | 2 | 0 | |a Union économique et monétaire ouest africaine. |
| 610 | 2 | 7 | |a Union économique et monétaire ouest africaine. |2 fast |0 (OCoLC)fst00720827 |
| 650 | 0 | |a Foreign exchange rates |z Africa, West. | |
| 651 | 0 | |a Africa, West |x Commerce. | |
| 650 | 6 | |a Taux de change |z Afrique occidentale. | |
| 651 | 6 | |a Afrique occidentale |x Commerce. | |
| 650 | 7 | |a Commerce. |2 fast |0 (OCoLC)fst00869279 | |
| 650 | 7 | |a Foreign exchange rates. |2 fast |0 (OCoLC)fst00931816 | |
| 651 | 7 | |a West Africa. |2 fast |0 (OCoLC)fst01239521 | |
| 655 | 0 | |a Electronic books. | |
| 655 | 4 | |a Electronic books. | |
| 710 | 2 | |a International Monetary Fund. |b African Department, |e issuing body. |0 http://id.loc.gov/authorities/names/no93028933 | |
| 776 | 0 | 8 | |i Print version: |a Lonkeng Ngouana, Constant. |t Exchange Rate Volatility Under Peg: Do Trade Patterns Matter? |d Washington : International Monetary Fund, ©2012 |z 9781475502251 |
| 830 | 0 | |a IMF working paper ; |v WP/12/73. |0 http://id.loc.gov/authorities/names/no89010263 | |
| 856 | 4 | 0 | |u http://elibrary.imf.org/view/journals/001/2012/073/001.2012.issue-073-en.xml |y INTERNATIONAL MONETARY FUND |
| 929 | |a oclccm | ||
| 999 | f | f | |i a0d7115a-a6f0-5add-8796-d3399772bc1e |s 44b55cd1-0149-5fbc-b28e-8173ee71387d |
| 928 | |t Library of Congress classification |a HG3881.5.I58W67 No. 12/73eb |l Online |c UC-FullText |u http://elibrary.imf.org/view/journals/001/2012/073/001.2012.issue-073-en.xml |z INTERNATIONAL MONETARY FUND |g ebooks |i 12144278 | ||