Exchange Rates during the Crisis

Nearly two years after the onset of the financial crises, many central banks have brought their policy interest rates down to, or close to zero. Various governments have seen their budget deficits soar. Both policies have affected exchange rates, p...

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Bibliographic Details
Main Authors:	Weber, Sebastian, Wyplosz, Charles
Format:	Policy Research Working Paper
Language:	English
Published:	2012
Subjects:	BANKING SYSTEMS BLACK MARKETS BUDGET DEFICITS BUFFER CAPITAL ACCOUNT CAPITAL CONTROLS CAPITAL FLIGHT CAPITAL MOVEMENTS CAPITAL OUTFLOW CENTRAL BANK CENTRAL BANK POLICY CENTRAL BANKS COMMODITY COMPETITIVE DEVALUATIONS COMPETITIVE EXCHANGE RATE COMPETITIVE EXCHANGE RATES COMPETITIVENESS COMPLEX INSTRUMENT CONVENTIONAL INSTRUMENT CREDIT EXPANSION CREDIT FACILITY CURRENCY CURRENCY EARNINGS CURRENCY PEG CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT DEFICITS CURRENT ACCOUNT POSITION CURRENT ACCOUNT SURPLUS CURRENT ACCOUNT SURPLUSES DEBT BURDENS DEBT INTEREST DEBT LEVEL DEBT LEVELS DEBT RATIO DEBTS DEFLATION DEMAND FOR CREDIT DEPRECIATION DEPRECIATIONS DEPRESSION DEPRESSIONS DEVALUATION DEVELOPING COUNTRIES DISINFLATION DISTRIBUTIONAL EFFECTS DOMESTIC BANKING DOMESTIC CONSUMPTION ECONOMETRIC ESTIMATES ECONOMIC FORECASTING ECONOMIC OUTLOOK EFFECTIVE EXCHANGE RATE ELASTICITY EMERGING MARKETS EMERGING-MARKET EQUILIBRIUM EQUILIBRIUM LEVELS EQUITY INVESTMENT EURO ZONE EXCHANGE RATE EXCHANGE RATE ARRANGEMENTS EXCHANGE RATE BAND EXCHANGE RATE DEVALUATIONS EXCHANGE RATE FLOATS EXCHANGE RATE FLUCTUATIONS EXCHANGE RATE INTERVENTION EXCHANGE RATE INTERVENTIONS EXCHANGE RATE MISALIGNMENT EXCHANGE RATE MOVEMENTS EXCHANGE RATE POLICIES EXCHANGE RATE POLICY EXCHANGE RATE REGIMES EXCHANGE RATE STABILITY EXCHANGE RATES EXPANSIONARY FISCAL POLICY EXPANSIONARY POLICIES EXPENDITURES EXPLICIT EXCHANGE RATE EXPORT GOODS EXPORT MARKET EXPORT MARKETS EXPORT REVENUES EXPORTER EXPORTERS EXTERNAL BALANCE EXTERNAL COMPETITIVENESS EXTERNAL POSITION EXTERNAL POSITIONS EXTERNAL TRADE FINANCIAL ARCHITECTURE FINANCIAL CAPITAL FINANCIAL CENTRE FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SYSTEMS FISCAL POLICIES FISCAL POLICY FIXED EXCHANGE RATES FLEXIBLE EXCHANGE RATE FLEXIBLE EXCHANGE RATE REGIME FLEXIBLE EXCHANGE RATES FLOATER FOREIGN ASSET FOREIGN ASSET POSITION FOREIGN ASSETS FOREIGN BORROWING FOREIGN CURRENCY FOREIGN CURRENCY DEBT FOREIGN CURRENCY REVENUES FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FOREIGN EXCHANGE RESERVES FOREIGN LIABILITIES FOREIGN LIABILITY FOREIGN RESERVES GLOBAL CURRENT ACCOUNT IMBALANCES GLOBAL IMBALANCES GLOBAL OUTPUT GLOBAL TRADE GOLD GOLD STANDARD GOVERNMENT CONSUMPTION GROWTH RATE HIGH INFLATION HISTORY OF EXCHANGE RATE HOLDING IMPORTS INDUSTRIAL COUNTRIES INFLATION INFLATION FORECASTS INFLATION RATE INFLATION RATES INSTRUMENT INTEREST RATE INTEREST RATE DIFFERENTIALS INTEREST RATES INTERNATIONAL BANK INTERNATIONAL INVESTORS INTERNATIONAL MONETARY SYSTEM INTERNATIONAL MONEY INTERNATIONAL TRADE LIQUIDATION LIQUIDITY LOCAL CURRENCY LOSS OF COMPETITIVENESS MACROECONOMIC POLICY MARKET COMPETITION MARKET COUNTRIES MARKET EXPECTATIONS MARKET FORCES MARKET PRESSURE MARKET SHARE MISALIGNMENTS MONETARY EXPANSION MONETARY POLICIES MONETARY POLICY NOMINAL EXCHANGE RATE NOMINAL EXCHANGE RATES NOMINAL INTEREST RATE OPEN ECONOMIES OUTPUT OUTPUT DECLINE OVERVALUATION PEG POLICY RESPONSES POLITICAL CONSIDERATIONS POLITICAL ECONOMY POSITIVE EXTERNALITIES POVERTY REDUCTION PROTECTIONISM PUBLIC DEBT REAL EXCHANGE RATE REAL EXCHANGE RATE MISALIGNMENTS REAL EXCHANGE RATES REAL INTEREST REAL INTEREST RATES RECESSION REPAYMENT RESERVE ROBUSTNESS CHECK SEIZURE SLOWDOWN SMALL COUNTRIES STANDARD DEVIATIONS SURPLUS COUNTRIES SURPLUSES TOTAL EXPORTS TOTAL OUTPUT TRADABLE GOOD TRADE BALANCE TRADE PATTERN TRADE PATTERNS TRADE PROTECTION TRADE SHARES TRADE SURPLUSES TRADING TRADING PARTNERS TRANSACTION UNCERTAINTY VOLATILITY VOLATILITY IN EXCHANGE RATE WEIGHTS WORLD MARKET
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20090921124246 http://hdl.handle.net/10986/4250

Internet

http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20090921124246
http://hdl.handle.net/10986/4250

Exchange Rates during the Crisis

Internet

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