haku: @journal_id 7 / yhteensä: 1856
viite: 191 / 1856
| Tekijä: | Reinhart, C. |
| Otsikko: | The mirage of floating exchange rates |
| Lehti: | American Economic Review
2000 : MAY, VOL. 90:2, p. 65-70 |
| Asiasana: | ECONOMICS EXCHANGE RATES CAPITAL |
| Kieli: | eng |
| Tiivistelmä: | During the past few years, many countries have suffered severe currency and banking crises, producing a staggering toll on their economies, particularly in emerging-market countries. In many cases, the cost of restructuring the banking sector has been in excess of 20 percent of GDP, and output declines in the wake of crisis have been as large as 14 percent. An increasingly popular view blames fixed exchange rates, specifically "soft pegs", for these financial meltdowns. |
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