Optimal Currency Baskets for Small, Developed Economies
AbstractOptimal weights for a currency basket are derived under the assumption that the objective of the policymaker is to minimize fluctuation in the production of traded goods. Using the formulas derived in the analysis, various optimal basket calculations are carried out for Finland, Norway, and Sweden. For all these countries, the optimal basket weights for Germany and United Kingdom are found to be less than the grade share weights. The opposite is true for United States. Moreover, the actual weights in the basket of Sweden are almost identical to those the authors have computed as optimal. Copyright 1990 by The editors of the Scandinavian Journal of Economics.
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Scandinavian Journal of Economics.
Volume (Year): 92 (1990)
Issue (Month): 4 ()
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Web page: http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1467-9442
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- Joseph Daniels & Peter G. Toumanoff & Marc von der Ruhr, 2001.
"Optimal Currency Basket Pegs for Developing and Emerging Economies,"
Working Papers and Research
0103, Marquette University, Center for Global and Economic Studies and Department of Economics.
- P. Daniels, Joseph, 2001. "Optimal Currency Basket Pegs for Developing and Emerging Economies," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 16, pages 128-145.
- Zhang, Zhichao & Shi, Nan & Zhang, Xiaoli, 2011.
"China’s new exchange rate regime, optimal basket currency and currency diversification,"
32642, University Library of Munich, Germany.
- Zhang, Zhichao & Shi, Nan & Zhang, Xiaoli, 2011. "China’s new exchange rate regime, optimal basket currency and currency diversification," BOFIT Discussion Papers 19/2011, Bank of Finland, Institute for Economies in Transition.
- Honohan, Patrick, 1993. "An Examination of Irish Currency Policy," Research Series, Economic and Social Research Institute (ESRI), number PRS18, December.
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