Exchange rate interventions and insurance: is fear of floating a cause for concern?

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dc.contributor.authorGallego Yáñez, Francisco
dc.contributor.authorJones, Geraint
dc.date.accessioned2019-11-01T00:03:13Z
dc.date.available2019-11-01T00:03:13Z
dc.date.issued2006
dc.descriptionFear of floating has recently come to be seen as one of the central de facto characteristics of exchange rate regimes in emerging markets, after first being identified by Calvo and Reinhart (2002). The interpretation of this phenomenon is still open to question. Does the optimal monetary regime for emerging markets with open capital markets entail limited exchange rate flexibility? Is the famous trilemma of open economies really a dilemma (as formulated by Shambaugh, 2004) for emerging markets—a choice between open capital markets or monetary freedom with no separate choice of exchange rate policy? Or is the trilemma alive and well? Does the pervasive fear of floating indicate instead that many emerging markets inadvisably choose to limit exchange rate flexibility when a genuine floating regime would be preferable?
dc.file.nameBCCh-sbc-v10-p353_398
dc.format.pdf
dc.format.extentSección o Parte de un Documento
dc.format.mediump. 353-398
dc.identifier.isbn956-7421-23-4
dc.identifier.urihttps://hdl.handle.net/20.500.12580/3715
dc.language.isoeng
dc.publisherBanco Central de Chile
dc.relation.ispartofSeries on Central Banking, Analysis, and Economic Policies, no. 10
dc.rightsAttribution-NonCommercial-NoDerivs 3.0 Chile*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/cl/*
dc.subjectTIPO DE CAMBIOes_ES
dc.subjectMERCADO DE CAPITALESes_ES
dc.titleExchange rate interventions and insurance: is fear of floating a cause for concern?
dc.type.docArtículo

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