BazEkon - Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie

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Autor
Wajda-Lichy Marta (Kolegium Ekonomii, Finansów i Prawa)
Tytuł
Problem wyboru systemu kursu walutowego a średniookresowy cel polityki monetarnej
The Issue of Selecting a Currency Exchange Rate Regime and the Medium-term Objective of Monetary Policy
Źródło
Zeszyty Naukowe / Akademia Ekonomiczna w Krakowie, 2006, nr 744, s. 34-53, bibliogr. 46
Słowa kluczowe
Kurs walutowy, System monetarny, Polityka pieniężna, Przegląd literatury
Exchange rates, Monetary system, Monetary policy, Literature review
Uwagi
summ.
Abstrakt
Przeprowadzono analizę dotyczącą wyboru reżimu kursowego w kontekście realizacji wewnętrznych celów polityki makroekonomicznej. Zbadano koszty i korzyści związane z funkcjonowaniem gospodarki w danym reżimie kursowym. Wskazano które cechy kursu walutowego, mogą się przyczynić do osiągnięcia średniookresowego lub długookresowego celu gospodarczego a z drugiej strony mogą utrudnić realizację przyjętych wcześniej celów.

The selection of a currency exchange rate regime should be consistent with economic policy objectives. The most recent literature shows that the exchange rate regime is increasingly becoming an instrument used to achieve medium and even long-term objectives. This approach broadens the traditional application of an exchange rate described in the Mundell-Fleming model or in the theory of optimum currency areas, where the role of the exchange rate as a stabilising factor against economic shocks is emphasised. In this article, the author's analysis indicates the costs and benefits that an economy may achieve by selecting a given exchange rate regime. The author describes the attributes of currency exchange rate systems, which on the one hand may contribute to meeting medium or even long-term economic policy objectives, while on the other hand may constitute a significant obstacle to achieving previously adopted economic objectives. (original abstract)
Dostępne w
Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie
Biblioteka Szkoły Głównej Handlowej w Warszawie
Biblioteka Główna Uniwersytetu Ekonomicznego w Katowicach
Biblioteka Główna Uniwersytetu Ekonomicznego w Poznaniu
Biblioteka Główna Uniwersytetu Ekonomicznego we Wrocławiu
Pełny tekst
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Bibliografia
Pokaż
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  2. Ardy V., Choice of Exchange Rates Regimes for a Smaller Economy: a Survey of Some Key Issues [w:] Choosing an Exchange Regime, V. Ardy, P. De Grauvve, IMF, Washington 1990.
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  4. Ball L., Policy Rides for Open Economies [w:] Monetary Policy Rules, red. J.B. Taylor, University Chicago Press 1999.
  5. Batini N., Nelson E., Optimal Horisons for Inflation Targeting, Bank of England Working Paper, 2000, nr 119.
  6. Bean Ch., Monetary Policy under EMU, „Oxford Review of Economic Policy" 1998, vol. 14, nr 3.
  7. Begg D., Dornbusch R., Fischer S., Ekonomia, PWE, Warszawa 1994.
  8. Benigno G., Benigno P., Monetary Policy Rules and the Exchange Rate, Working Paper Princeton University, May 2000.
  9. Berg A., Boreinsztein E., The Choice of Exchange Rale Regime and Monetary Target in Highly Dollarized Economies, IMF Working Paper, 2000, nr 29.
  10. Bernanke B.S., Laubach T., Mishkin F.S., Posen A.S., Inflation Targeting, Princeton University Press, New Jersey 1999.
  11. Blinder A.S., Bankowość Centralna w teorii i praktyce, CeDeWu, Warszawa 2001.
  12. Buiter W.H., Corsetti G., Pesenli P., Interpreting the ERM Crisis: Country-specific and Systemic Issues, Princeton Studies in International Finance nr 84, Princeton University, March 1998.
  13. Caves B.C., Frankel A., Jones R.W., Handel i finanse międzynarodowe, PWE, Warszawa 1998.
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  15. Devereux MB., Engel Ch., Fixed vs. Floating Exchange Rates: How Price Setting Affects the Optimal Choice of Exchange-Rate Regime, NBER WP, nr 6867, December 1998.
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  19. Edwards S., Determinants of the Choice between Fixed and Flexible Exchange Rate Regimes, NBER WP5756, 1996.
  20. Eichengreen B., Masson P., Transition Strategies and Nominal Anchors on the Road to Greater Exchange Rate Flexibility, Princeton University Press, 1999.
  21. Eichengreen B., Rose A.K., Wyplosz Ch., Speculative Attacks on Pegged Exchange Rates: An Empirical Exploration with Special Reference io The European Monetary System, NBER Working Paper nr 4898, 1995.
  22. Estrella F, Mishkin F.S., Is There a Role Monetary Aggregates in the Conduct of Monetary Policy? NBER Working Paper nr 5845, 1996.
  23. Feldstein M., Avoiding Currency Crisis, materiały konferencyjne, Federal Reserve Conference, Cambridge, August 1999.
  24. Finn A., An Equilibrium Theory of Nominal and Real Exchange Rate Comovement, „Journal of Monetary Economics" 1999, nr 44.
  25. Flood P., Marion N.P., Exchange Regime Choice, IMF Working Paper, 1991, nr 90.
  26. Frankel J,. No Single Currency Regimes Is Right For All Countries or at All Times, NBER Working Paper nr 7338, 1999.
  27. Giovanini A., Giavazzi F., The Role of Exchange Rate Regime in Disinflation: Empirical Evedence from the EMS [w:] The European Monetary System, red. F. Giavazzi, M. Miller, S. Micossi, Cambridge University Press, Cambridge 1998.
  28. Issing O., No Fixed Policy Rules for Monetary Policy of the ECB, „Das Gespräch" 2000, nr 14.
  29. Krugman P., Curriencies and Crises, The MIT Press, Cambridge MA, 1995.
  30. Leitemo K., Söderström U., Simple Monetary Policy Rules and Exchange Rate Uncertainty, Research Department, Norges Bank, June 2001.
  31. McCallum B.T., Nelson E., Nominal Income Targeting in an Open Economy Optimizing Model, „Journal of Monetary Economics" 1999, nr43.
  32. Nelson K., UK monetary Policy 1972-1997: A Guide Using Taylor Rules, Bank of England Working Paper, London 2000.
  33. Obstfeld M., Rogoff K., Mirage of Fixed Exchange Rates, „Journal of Economic Perspectives" 1995, nr 4.
  34. Obstfeld M., Rogoff K., Foundations of International Macroeconomics, MIT Press, Cambridge, Massachusetts-London 1996.
  35. Obslfeld M., Rogoff K., The Six Major Puzzles in International Macroeconomics: Is There a Common Cause? NBER WP nr 7777, July 2000.
  36. Obfsleld M., Rogoff K., New Directions for Stochastic Open Economy Models, „Journal of International Economics" 2000, nr 50. Rødsteth A., Open Economy Macroeconomics, Cambridge University Press, Cambridge 2000.
  37. Svensson L.E.O., Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets, „European Economic Review" 1997, nr 6.
  38. Svensson L.E.O., Open Economy Inflation Targeting, „Journal of International Economy", February 2000, nr 50.
  39. Taylor J.B., Discretion Versus Policy Rules in Practice, Carnegie-Rochester Conference Series on Public Policy, 1993, nr 39.
  40. Taylor J.B., The Monetary Transmission Mechanism: An Empirical Framework, „Journal of Economic Prespectives" 1995, nr 4.
  41. Monetary Policy Rules, red. J.B. Taylor, University of Chicago Press, Chicago, Illinois 1999.
  42. Taylor J.B., The Role of The Exchange Rate in Monetarv Policy Rules, (mimeo) Stanford University, 2000.
  43. Weerapana A., The Performance of Simple Monetary Policy Rules in a Large Open Economy, Wellesley College Working Paper, May 2000.
  44. Wojtyna A., Szkice o niezależności banku centralnego, PWN, Warszawa-Kraków 1998.
  45. Wojtyna A,, Kontrowersje wokół skuteczności polityki pieniężnej, „Bank i Kredyt", lipiec-sierpień 2000.
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ISSN
0208-7944
Język
pol
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