Exchange Rate Policies for Emerging Markets

Exchange Rate Policies for Emerging Markets

"Systematic Managed Floating," 2019, Open Economies Review, April, vol 30, no.2 pp.255-295.  Reprinted, 2021, in The Asian Monetary Policy Forum -- Insights for Central Banking (Singapore: World Scientific Publ. Co. Pte. Ltd,), edited by S,Davis. E.Robinson, & B.Yeung, Davis, pp. 160-223.

"Choosing an Exchange Rate Regime,” 2011, The Handbook of Exchange Rates, edited by Jessica James, Ian W. Marsh & Lucio Sarno (John Wiley). M-RCBG WP 16-2011.

Estimation of De Facto Flexibility Parameter and Basket Weights in Evolving Exchange Rate Regimes,” with Daniel Xieproofs, American Economic Review Papers & Proceedings, 100, no.2, May 2010, pp.568-72.   ​​​Presented at De Nederlandsche Bank, Amsterdam, June 2010; presented at Atlanta AEA meetings, Jan. 2010.   HKS RWP 10-005;  NBER WP No. 15620; Peterson Institute for International Economics WP 10-1, 2010.  Replication files.

New Estimation of China’s Exchange Rate Regime,” 2009, in Pacific Economic Review vol.14, no.3, pp.346-360 (Wiley InterScience, Blackwell Publ.).  "New Estimation of the RMB Regime" (incl. appendix tables, in China’s Emerging Financial Markets: Challenges and Opportunities, J.Tatom, G.Yago, and J. Barth, eds. (Springer).   RWP08-077, Harvard University; NBER WP no. 14700.

"Estimation of De Facto Exchange Rate RegimesSynthesis of The Techniques for Inferring Flexibility and Basket Weights," with Shang-Jin Wei, 2008, IMF Staff Papers, 55, pp.384-416  Full version, with all the tables, Annual Research Conference,  IMF, Washington DC, Nov. 16, 2007;  Slides;  replication files.  HKS RWP-026, May 2008, with half the tables; replication files.  Complete version, with all tables, HKS CID WP 157, March 2008.

"On the Rand: Determinants of the South African Exchange Rate,"  South African Journal of Economics, 75, no.3, September 2007.   U.Stellenbosch, Slides;  Harvard, Slides, April 2006.  Harvard CID WP139 KSG RWP07-015; NBER WP 13050April 2007.   "On the Rand: Update Note," July 2007South Africa.

“The Balassa-Samuelson Relationship and the Renminbi," KSG, Dec. 2006.   [Cited in "Push to tap into EM currency returns," Financial Times, Feb. 27, 2011.]

"Contractionary Currency Crashes  in Developing Countries," IMF Staff Papers 52, no.2, pp 149-192, 2005.  The Mundell Fleming Lecture,  IMF 5th Annual Research Conference, Nov. 5, 2004.  CID WP 117; RWP04-037, Harvard University.  NBER WP No. 11508.

 "On the Tenge: Monetary and Exchange Rate Policy for Kazakhstan,"  Consultancy for government of Kazakhstan, CID, Apr. 2005. Russian translation, ADB, 2009.

"Experience of and Lessons from Exchange Rate Regimes in Emerging Economies," , In Monetary and Financial Cooperation in East Asia, Asian Development Bank (Macmillan Press), 2003. Written for a study coordinated by Takatoshi Ito and Yung Chul Park. HKS RWP03-011; NBER WP10032.

"A Proposed Monetary Regime for Small Commodity-Exporters: Peg the Export Price (‘PEP’), ('PEP')," International Financevol. 6, no. 1, Spring 2003, 61-88HKS RWP03-003, Harvard University.    CLICK HERE FOR MORE ON: Peg the Export Price (PEP).

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"A Proposal to Anchor Monetary Policy by the Price of the Export Commodity"  (with Ayako Saiki), Published in Journal of Economic Integration, September 2002, Vol. 17, No. 3, 417-448. 

"Should Gold-Exporters Peg Their Currencies to Gold?"
Research Study No. 29 for the World Gold Council, London, 2002. 

Tables and Charts  

"Verifiability and the Vanishing Intermediate Exchange Rate Regime," with Sergio Schmukler and Luis Servén; Published inBrookings Trade Forum 2000, edited by Susan Collins and Dani Rodrik; Brookings Institution, Washington DC.

"Verifiability: A Rationale for the Failure of Intermediate Exchange Rate Regimes,"  InterAmerican Seminar in Economics, Buenos Aires, Dec. 3-4, 1999, organized by Sebastian Edwards and Edgardo Zablotsky.  Revised as World Bank Policy Research Working Paper No. 2397

"Verifying Exchange Rate Regimes" with Eduardo Fajnzylber, Sergio Schmukler, and Luis Serven.  Journal of Development Economics, vol. 66, no. 809, October 2001: 351-386.

"The New Financial Architecture: Exchange Rate Regimes and Financial Integration," Policy Brief no. 51, The Brookings Institution, Washington, DC, June 1999.

"Dollarization in Latin America: Solution or Straitjacket?" remarks at the Council on Foreign Relations, Washington DC, April 6, 1999, and IMF, June 24, 1999.

"No Single Currency Regime is Right for All Countries," testimony before the House Committee on Banking and Financial Services, May 21, 1999.

"Monetary Regime Choices for a Semi-Open Country," written for conference organized by Yung Chul Park, Seoul, Korea, November 6-7, 1992; inCapital Controls, Exchange Rates and Monetary Policy in the World Economy, edited by Sebastian Edwards, Cambridge University Press, 1995: 35-69.

 

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