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Inflationary Expectations and Price Interdependence under Floating Exchange Rates

In: Structural Change, Economic Interdependence and World Development

Author

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  • J. Ahmad

    (Concordia University)

Abstract

Recent monetary events have cast doubt on the traditional view that floating exchange rates eliminate the international transmission of price disturbances and allow increased policy autonomy. While exchange rate flexibility in the absence of official intervention have blunted the customary channels of transmission of nominal disturbances through changes in the reserve component of the domestic monetary base, other novel but equally pervasive channels of transmission have replaced the traditional ones. These newer channels of transmission undoubtedly influence the manner and the degree of transmission, without altering the fact of price interdependence among major countries.

Suggested Citation

  • J. Ahmad, 1987. "Inflationary Expectations and Price Interdependence under Floating Exchange Rates," International Economic Association Series, in: Silvio Borner & Alwyn Taylor (ed.), Structural Change, Economic Interdependence and World Development, chapter 25, pages 395-404, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-09117-1_25
    DOI: 10.1007/978-1-349-09117-1_25
    as

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