Exchange Rate Policy and Interdependence: Perspectives from the Pacific Basin

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Juli 2007



This book focuses on the conduct of exchange rate and monetary policies in the Pacific Basin.


List of contributors; Preface; 1. Overview Reuven Glick and Michael M. Hutchison; Part I. International Financial Market Integration: 2. Financial links around the Pacific Rim: 1982-1992 Menzie D. Chinn and Jeffrey A. Frankel; 3. Relative returns on equities in Pacific Basin countries Charles Engel and John H. Rogers; 4. Exchange rate policy, international capital mobility and monetary policy instruments Michael P. Dooley and Donald J. Mathieson; Part II. Choice of Exchange Rate Regimes: 5. Exchange rate management: a partial review Stephen J. Turnovsky; 6. Exchange rate policy and insulation from external shocks: the cases of Korea and Taiwan, 1970-1990 Ramon Moreno; 7. Trade price shocks and insulation: Australia's experience with floating rates John Pitchford; 8. The role of the exchange rate in New Zealand monetary policy Arthur Grimes and Jason Wong; 9. Officially floating, implicitly targeted exchange rates: examples from the Pacific Basin Helen Popper and Julia Lowell; Part III. Intervention and Sterilization Policies: 10. Monetary policy, intervention and exchange rates in Japan Reuven Glick and Michael M. Hutchison; 11. The signaling effect of foreign exchange intervention: the case of Japan Tsutomu Watanabe; 12. Sterilization of the monetary effects of current account surpluses and its consequences: Korea, 1986-1990 Sung Y. Kwack; Part IV. Prospects for a Yen Bloc: 13. On the possibility of a yen bloc Takatoshi Ito; 14. Economic fundamentals and a yen currency area for Asian Pacific Rim countries Michael Melvin, Michael Ormiston and Bettina Peiers; Index.


"The essays contained in the book are...solid contributions to our understanding of exchange rate policy. Future research on exchange rate arrangements in the Pacific Basin should start by consulting this work." Journal of Economic Literature "Overall, this collection of essays will appeal to a wide audience. The contributors are effective researchers who employ sophisticated techniques. Students of international finance will find the essays provocative and potentially helpful in identifying research projects. Economists specializing in this area will admire the attention to detail, the emphasis on policy considerations, and the focus on a set of often-neglected countries." Eastern Economic Journal
EAN: 9780521041232
ISBN: 0521041236
Untertitel: Sprache: Englisch.
Erscheinungsdatum: Juli 2007
Seitenanzahl: 392 Seiten
Format: kartoniert
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