Exchange rate regimes and monetary autonomy : empirical evidence from selected Caribbean countries
Craigwell, Roland
Exchange rate regimes and monetary autonomy : empirical evidence from selected Caribbean countries - [St. Augustine]TT [Caribbean Centre for Money and Finance] 2007 - 27 p.
Uses the error correcting methodology to investigate how pegged and non-pegged exchange rate regimes in a set of Caribbean countries affect the closeness of the relationship between changes in a base country rate and the local rate. Supports the open economy macroeconomic policy trilemma proposition that only two of the following goals - stability in the exchange rate, national independence in monetary policy and free capital mobility - can be achieved simultaneously.
11.02.01 M742cr(2007)
Exchange rate regimes and monetary autonomy : empirical evidence from selected Caribbean countries - [St. Augustine]TT [Caribbean Centre for Money and Finance] 2007 - 27 p.
Uses the error correcting methodology to investigate how pegged and non-pegged exchange rate regimes in a set of Caribbean countries affect the closeness of the relationship between changes in a base country rate and the local rate. Supports the open economy macroeconomic policy trilemma proposition that only two of the following goals - stability in the exchange rate, national independence in monetary policy and free capital mobility - can be achieved simultaneously.
11.02.01 M742cr(2007)