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<図書>
Limiting exchange rate flexibility : the European monetary system

責任表示 Francesco Giavazzi and Alberto Giovannini
データ種別 図書
出版情報 Cambridge, Mass. : MIT Press , c1989
本文言語 英語
大きさ xi, 230 p. : ill. ; 24 cm
概要 Events of recent years have exacerbated the dissatisfaction with the performance of flexible exchange rates, and prompted a number of proposals to limit exchange rate fluctuations among industrialized...countries. This book provides the first in depth analysis of the European Monetary System (EMS), the only lasting experiment of this kind. The book's careful blend of theory and empirical analysis supports the view that, in Europe, nominal exchange rate targets have had significant real effects. Its detailed description of European economic institutions shows why exchange rate fluctuations are perceived as especially harmful. Giavazzi and Giovannini explain the institutional features of the EMS and describe how central banks run the system in practice. They offer an illuminating analysis of European capital controls and show how such regulations have guaranteed the survival of the EMS in a period characterized by unprecedented dollar fluctuations. The authors point out the lessons to be drawn from this experience with the EMS for the more general problem of reforming the international monetary system. Their forceful arguments are backed by analysis of such important issues as the determinants of international capital flows and international portfolio diversification, and the role of credibility and expectations in disinflation. Francesco Giavazzi is Professor of Economics at the University of Bologna. Alberto Giovannini is Associate Professor at the Columbia University Graduate School of Business. 続きを見る

所蔵情報



中央図 3B 337.72/G 41/1 1989
068172190023375

書誌詳細

一般注記 Bibliography: p. [207]-222
Includes index
著者標目 *Giavazzi, Francesco
Giovannini, Alberto
件 名 LCSH:Foreign exchange administration -- Europe  全ての件名で検索
LCSH:Money -- Europe  全ての件名で検索
LCSH:International finance
分 類 LCC:HG3942
DC19:332.4/56094
NDC7:337.1
書誌ID 1000084137
ISBN 0262071169
NCID BA07436278
巻冊次 ISBN:0262071169
登録日 2009.09.10
更新日 2009.09.10