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dc.contributor.authorFfrench-Davis, Ricardoen
dc.contributor.authorLarraín, Guillermoen
dc.date.accessioned2011-12-14T09:44:32Z-
dc.date.available2011-12-14T09:44:32Z-
dc.date.issued2002-
dc.identifier.isbn9291901555en
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
dc.language.isoengen
dc.publisher|aThe United Nations University World Institute for Development Economics Research (UNU-WIDER) |cHelsinkien
dc.relation.ispartofseries|aWIDER Discussion Paper |x2002/18en
dc.subject.jelE61en
dc.subject.jelE65en
dc.subject.jelF31en
dc.subject.jelF41en
dc.subject.ddc330en
dc.subject.keywordexchange rateen
dc.subject.keywordcrawling-bandsen
dc.subject.keywordcurrency boardsen
dc.subject.keywordmacroeconomic sustainabilityen
dc.subject.keywordLatin Americaen
dc.subject.stwWechselkurspolitiken
dc.subject.stwWechselkurssystemen
dc.subject.stwCurrency Boarden
dc.subject.stwLateinamerikaen
dc.titleHow optimal are the extremes? Latin American exchange rate policies during the Asian crisis-
dc.typeWorking Paperen
dc.identifier.ppn345967305en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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