00852nam a2200109Ia 4500080001900000100001900019245007600038260002500114300001400139520057100153583001800724  a11.03.01 G6181  aGoldfajn, Ilan  aCan flexible exchange rates still 'work' in financially open economies?  bUNaNew YorkUSc2001  aix, 22 p.  aConcentrates on the effect of high capital mobility on the usefulness of different exchange rate regimes, in particular on the relative benefits of exchange rate flexibility.  Documents the degree of volatility of the exchange rate in floating regime economies.  Examines the sensitivity of interest rates to foreign interest rate shocks.  Reports on the contractionary effects of devaluation in emerging economies.  Analyses, briefly, two case studies in Latin America, Mexico and Brazil, and comments on the recent performance of these floating exchange economies.  c4/4/01kJOY_D