Exchange Rate Regimes and the Stability of the International Monetary System

By Atish R. Ghosh, Jonathan David Ostry, Charalambos G Tsangarides

March 15, 2011

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Atish R. Ghosh, Jonathan David Ostry, and Charalambos G Tsangarides. Exchange Rate Regimes and the Stability of the International Monetary System, (USA: International Monetary Fund, 2011) accessed November 23, 2024

Summary

The member countries of the International Monetary Fund collaborate to try to assure orderly exchange arrangements and promote a stable system of exchange rates, recognizing that the essential purpose of the international monetary system is to facilitate the exchange of goods, services, and capital, and to sustain sound economic growth. The paper reviews the stability of the overall system of exchange rates by examining macroeconomic performance (inflation, growth, crises) under alternative exchange rate regimes; implications of exchange rate regime choice for interaction with the rest of the system (external adjustment, trade integration, capital flows); and potential sources of stress to the international monetary system.

Subject: Emerging and frontier financial markets, Exchange rate arrangements, Exchange rates, Financial markets, Floating exchange rates, Foreign exchange, Inflation, Prices, Real exchange rates

Keywords: Country, Country's interaction, EME, Emerging and frontier financial markets, EMES' incentive, Exchange rate, Exchange rate arrangements, Floating exchange rates, Global, IMF staff estimate, Inflation, Inflation benefit, OP, Real exchange rates, Regime, Regime case, Reserve currency status

Publication Details

Pages:

47
Volume:

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DOI:

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Issue:

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Series:

Occasional Paper No. 2011/001
Stock No:

S270EA
ISBN:

9781589069312
ISSN:

0251-6365

Supplemental Resources

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