Title
Bringing about realistic exchange rates : a post-Asian Financial Crisis perspective
Document Type
Book chapter
Source Publication
Exchange rate regimes and macroeconomic stability
Publication Date
1-1-2003
First Page
133
Last Page
144
Publisher
Kluwer Academic Publishers
Abstract
This chapter argues that both fixed exchange rates and floating exchange rates can lead us to currency crises, as the host currency may be too strong or the floating currency may itself become too strong. What is needed is “realistic exchange rates” that are compatible with full employment and external balance. This chapter attempts to define the concept and to offer a mechanism for approximating realistic exchange rates operationally.
DOI
10.1007/978-1-4615-1041-3_8
Publisher Statement
Copyright @ 2003 Springer Science+Business Media New York. Access to external full text or publisher's version may require subscription.
Additional Information
Paper presented at the 1st Biennial Conference of the Hong-Kong-Economic-Association, 16-Dec-2000, Hong Kong, China.
ISBN of the source publication: 9781461353652
Full-text Version
Publisher’s Version
Language
English
Recommended Citation
Ho, L. S. (2003). Bringing about realistic exchange rates: A post-Asian financial crisis perspective. In L. S. Ho & C. H. Yuen (Eds.), Exchange rate regimes and macroeconomic stability (pp. 133-144). Boston: Kluwer Academic Publishers.
