The Treasury Department's Report to Congress on International Economic and Exchange Rate Policies
The Treasury Department's Report to Congress on International Economic and Exchange Rate Policies

Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs

Publisher: Amicus

Published: 2005

Total Pages: 104

ISBN-13:

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Exercise, discusses indepth the benefits of exercise for teenagers, including how to make exercise fun and safe and develop it into a lifelong habit. Additional features include: a table of contents, glossary, index, fact boxes, real life quotations, and recommended books and web sites for further exploration.

Strained Relations
Strained Relations

Author: Michael D. Bordo

Publisher: University of Chicago Press

Published: 2015-03-02

Total Pages: 453

ISBN-13: 022605151X

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During the twentieth century, foreign-exchange intervention was sometimes used in an attempt to solve the fundamental trilemma of international finance, which holds that countries cannot simultaneously pursue independent monetary policies, stabilize their exchange rates, and benefit from free cross-border financial flows. Drawing on a trove of previously confidential data, Strained Relations reveals the evolution of US policy regarding currency market intervention, and its interaction with monetary policy. The authors consider how foreign-exchange intervention was affected by changing economic and institutional circumstances—most notably the abandonment of the international gold standard—and how political and bureaucratic factors affected this aspect of public policy.

Flexible Exchange Rates for a Stable World Economy
Flexible Exchange Rates for a Stable World Economy

Author: Joseph E. Gagnon

Publisher: Peterson Institute

Published: 2011

Total Pages: 301

ISBN-13: 0881326356

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Volatile exchange rates and how to manage them are a contentious topic whenever economic policymakers gather in international meetings. This book examines the broad parameters of exchange rate policy in light of both high-powered theory and real-world experience. What are the costs and benefits of flexible versus fixed exchange rates? How much of a role should the exchange rate play in monetary policy? Why don't volatile exchange rates destabilize inflation and output? The principal finding of this book is that using monetary policy to fight exchange rate volatility, including through the adoption of a fixed exchange rate regime, leads to greater volatility of employment, output, and inflation. In other words, the "cure" for exchange rate volatility is worse than the disease. This finding is demonstrated in economic models, in historical case studies, and in statistical analysis of the data. The book devotes considerable attention to understanding the reasons why volatile exchange rates do not destabilize inflation and output. The book concludes that many countries would benefit from allowing greater flexibility of their exchange rates in order to target monetary policy at stabilization of their domestic economies. Few, if any, countries would benefit from a move in the opposite direction.