The Choice of Exchange Rate Regime
Bibliographic Data
| ID | 9715530 |
|---|---|
| Authors | Simon Wren‐Lewis (University of Exeter, corresponding author) |
| Year | 1997 |
| Volume | 107 |
| Issue | 443 |
| Pages | 1157-1168 |
| Publication date | 1997-07-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/j.1468-0297.1997.tb00015.x |
| OpenAlex | W2125989172 |
| Language | EN |
| Citations received | 3 |
| References cited | 20 |
In the 1990s, UK policy towards the exchange rate shifted from an attempt to be part of an ERM committed to narrow exchange rate bands to a monetary policy where the exchange rate has no explicit role. In particular, during the latter half of 1996 and the beginning of 1997 Sterling appreciated substantially, and yet the Bank of England continued to suggest that interest rates needed to rise to meet inflation targets.1 However, the government has not ruled out the possibility of irrevocably fixing its exchange rate against key European currencies by joining a European Monetary Union. Dramatic shifts in policy towards the exchange rate are not unusual historically.2 These shifts, like recent changes in UK policy, give the impression that governments should either fix the exchange rate or ignore it. Although textbook discussions of exchange rate policy often compare these two extremes, in reality compromise positions
Compromise · Economics · Exchange rate · Exchange-rate regime · Government (linguistics · Inflation (cosmology · Interest rate parity · International economics · Keynesian economics · Monetary economics · Monetary policy · Political science · Economic Theory and Policy · Global Financial Crisis and Policies · Law · Monetary Policy and Economic Impact
Innovation and growth in the global economy
Rules, discretion and reputation in a model of monetary policy
A Model of Balance-of-Payments Crises
The Optimal Degree of Commitment to an Intermediate Monetary Target
An Econometric Analysis of U.S. Foreign Direct Investment
Exchange Rates, Nominal Inertia and Inflation
Understanding Interdependence
The Macroeconomic Effects of Fiscal Policy
The Post‐ERM Framework for Monetary Policy in the United Kingdom
| Unique citing works | 3 |
|---|---|
| Citations per year | 0,15 |
| Citation span | 2006 - 2013 (8) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 3 |