Economics, Econometrics and Finance
8 years ago

New study reveals key to stabilizing economy and exchange rates

Dr Leonard Polonsky thesis digitisation
Some problems of exchange-rate policy and stabilization in an open economy
Mark Courtney

Paper Summary

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Exchange-rate policy aims to stabilize output, inflation, and exchange rates. Factors like interest rates, terms of trade, and capital mobility affect exchange rate volatility. Deviations in output and inflation can help identify disturbances. Different exchange-rate systems may be needed based on the type of disturbance. A model for analyzing exchange-rate policy in open economies was developed and tested in South Africa from 1974-1981.