Managing floating exchange rates

The Stabilizing Properties of Floating Exchange Rates: Some International Evidence

This paper analyzes the stabilizing properties of alternative monetary policy regimes. In practice there is a choice between two broad types of monetary policy regimes: a fixed exchange rate regime or a floating exchange rate regime. In this paper I compare exchange rate targeting with different floating exchange rate regimes: strict price level targeting, flexible price level targeting and out...

Nonlinearity In Exchange Rates and Forecasting

A Simple Dynamic General Equilibrium Analysis of the Trade-off Between Fixed and Floating Exchange rates

This paper provides a complete analytical characterization of the positive and normative effects of alternative exchange rate regimes in a simple two-country sticky-price dynamic general equilibrium model with money, technology, and government spending shocks. A central question addressed is whether fixing the exchange rate prevents macroeconomic adjustment in relative prices from occurring, in...

Exchange rates.

THE UNIVERSITY of Pennsylvania health system was in London recently, recruiting nurses. Its advertisement stated that its recruiters were experienced in hiring nurses from the UK, Ireland and the Philippines, and an 'on the spot job offer is a possibility'. This one advert neatly captures the dynamics of the new international nursing labour market. The advert was placed by an international recr...

Exchange-Repairs: Managing Inconsistency in Data Exchange

In a data exchange setting with target constraints, it is often the case that a given source instance has no solutions. Intuitively, this happens when data sources contain inconsistent or conflicting information that is exposed by the target constraints at hand. In such cases, the semantics of target queries trivialize, because the certain answers of every target query over the given source ins...