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dc.contributor.authorFfrench-Davis, Ricardoen_US
dc.contributor.authorLarraín, Guillermoen_US
dc.date.accessioned2011-12-14T09:44:32Z-
dc.date.available2011-12-14T09:44:32Z-
dc.date.issued2002en_US
dc.identifier.isbn9291901555en_US
dc.identifier.urihttp://hdl.handle.net/10419/52951-
dc.description.abstractDuring the Asian crisis, intermediate exchange rate regimes vanished. It has been argued that those regimes were no longer useful and only the extremes remained valid. The paper analyses three foreign exchange regimes: Argentina (pegged), Chile (band) and Mexico (float). The Argentinean currency board delivered low financial volatility while it was credible, but even then it displayed high real volatility. Mexican float performed well in periods of instability isolating the real sector. The Chilean band delivered a mixed outcome as compared to Argentina and Mexico. This is linked apparently to a loss in the band’s credibility, associated to policy mismanagement and an over-appreciation in the biennium before the crisis. Optimal exchange rate regimes vary across time and the conjuncture. Exit strategies are part of the election of the optimal system, including a flexible policy package rather than a single rigid policy tool.en_US
dc.language.isoengen_US
dc.publisherUNU-WIDER Helsinkien_US
dc.relation.ispartofseriesWIDER Discussion Papers // World Institute for Development Economics (UNU-WIDER) 2002/18en_US
dc.subject.jelE61en_US
dc.subject.jelE65en_US
dc.subject.jelF31en_US
dc.subject.jelF41en_US
dc.subject.ddc330en_US
dc.subject.keywordexchange rateen_US
dc.subject.keywordcrawling-bandsen_US
dc.subject.keywordcurrency boardsen_US
dc.subject.keywordmacroeconomic sustainabilityen_US
dc.subject.keywordLatin Americaen_US
dc.subject.stwWechselkurspolitiken_US
dc.subject.stwWechselkurssystemen_US
dc.subject.stwCurrency Boarden_US
dc.subject.stwLateinamerikaen_US
dc.titleHow optimal are the extremes? Latin American exchange rate policies during the Asian crisisen_US
dc.typeWorking Paperen_US
dc.identifier.ppn345967305en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:WIDER Discussion Papers, United Nations University (UNU)

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