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dc.contributor.authorFrenkel, Robertoen_US
dc.contributor.authorRapetti, Martinen_US
dc.description.abstractThe paper analyzes exchange rate regimes implemented by the major Latin American countries since the Second World War, with special attention on the period of the second globalization process beginning in the 1970s. The analysis follows a historical narrative aiming to provide an understanding of the domestic and external circumstances in which various regimes were adopted. A simple conceptual framework is developed in order to emphasize how the exchange rate regime may affect key nominal and real variables in a small open economy. After an overview of the main trends followed by the major countries in the region over the last 60 years, the paper focuses on regimes that were implemented 1) with stabilization purposes (nominal anchors) and 2) with the aim of targeting the level of the real exchange rate. These two sections analyze in greater detail some experiences illustrating the pros and cons of both strategies. The paper closes with an assessment about exchange rate experiences in Latin America.en_US
dc.publisher|aUniv. of Massachusetts, Dep. of Economics |cAmherst, Mass.en_US
dc.relation.ispartofseries|aWorking Paper, University of Massachusetts, Department of Economics |x2010-01en_US
dc.subject.keywordLatin Americaen_US
dc.subject.keywordexchange rate regimesen_US
dc.subject.keywordreal exchange rateen_US
dc.subject.keywordinflation targetingen_US
dc.titleA concise history of exchange rate regimes in Latin Americaen_US
dc.typeWorking Paperen_US

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