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

Access to external full text or publisher's version may require subscription.

Additional Information

ISBN of the source publication: 9781461353652

Full-text Version

Publisher’s Version

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.