Managed Floating Plus (Policy Analyses in International Economics) - Softcover

Goldstein, Morris

Softcover

ISBN 10: 0881323365 ISBN 13: 9780881323368

Publisher: Peterson Institute for International Economics, 2002

Synopsis

In this analysis Morris Goldstein examines currency regime choices for emerging economies that are heavily involved with private capital markets. The author argues that the best regime choice for such economies would be managed floating plus, where "plus" is shorthand for a framework that includes inflation targeting and aggressive measures to discourage currency mismatching. Goldstein argues that if managed floating were enhanced in this way, it would retain the desirable features of a flexible rate regime while addressing the nominal anchor and balance-sheet problems that have historically underpinned a "fear of floating" and handicapped the performance of managed floating in emerging economies. The author also shows why managed floating plus is superior to four alternative currency-regime options―an adjustable peg system, a "BBC (basket, band, crawl) regime," a currency board, and dollarization.

About this title

About the Author

Morris Goldstein, nonresident senior fellow, has held several senior staff positions at the International Monetary Fund (1970–94), including Deputy Director of its Research Department (1987–94). From 1994 to 2010, he held the Dennis Weatherstone Senior Fellow position at the Peterson Institute. He has written extensively on international economic policy and on international capital markets.

Edition details

• Publisher: Peterson Institute for International Economics
• Publication date: 2002
• Language: English
• ISBN 10: 0881323365
• ISBN 13: 9780881323368
• Binding: Paperback
• Number of pages: 112