Chapter 06a

Chapter Objectives ,[object Object],[object Object],[object Object]

Exchange Rate Systems ,[object Object],[object Object],[object Object],[object Object],[object Object]

[object Object],[object Object],[object Object],[object Object],[object Object],Fixed Exchange Rate System

[object Object],[object Object],[object Object],[object Object],Freely Floating Exchange Rate System

[object Object],[object Object],[object Object],Freely Floating Exchange Rate System

[object Object],[object Object],Managed Float Exchange Rate System

[object Object],[object Object],Pegged Exchange Rate System

Currency Boards ,[object Object],[object Object],[object Object],[object Object]

Currency Boards ,[object Object],[object Object],[object Object]

Dollarization ,[object Object],[object Object],[object Object]

Exchange Rate Arrangements Pegged Rate System: Bahamas Bermuda Hong Kong Barbados China Saudi Arabia Pegged to U.S. dollar Floating Rate System: Afghanistan Hungary Paraguay Sweden Argentina India Peru Switzerland Australia Indonesia Poland Taiwan Bolivia Israel Romania Thailand Brazil Jamaica Russia United Kingdom Canada Japan Singapore Venezuela Chile Mexico South Africa Euro countries Norway South Korea

A Single European Currency ,[object Object],[object Object],[object Object],[object Object],€

[object Object],[object Object],A Single European Currency €

Government Intervention ,[object Object],[object Object],[object Object]

Government Intervention ,[object Object],[object Object],[object Object],[object Object],[object Object]

[object Object],[object Object],Government Intervention

Effects of Direct Central Bank Intervention in the Foreign Exchange Market Fed exchanges $ for £ to strengthen the £ Fed exchanges £ for $ to weaken the £ D 2 Quantity of £ S 1 D 1 Value of £ V 1 V 2 S 2 V 2 Quantity of £ D 1 Value of £ V 1 S 1

Nonsterilized versus Sterilized Intervention To Strengthen the C$: To Weaken the C$: Nonsterilized Sterilized Federal Reserve Banks participating in the foreign exchange market $ C$ $ Federal Reserve Banks participating in the foreign exchange market C$ Financial institutions that invest in Treasury securities $ T - securities Financial institutions that invest in Treasury securities $ T - securities

[object Object],[object Object],[object Object],Government Intervention

Intervention as a Policy Tool ,[object Object],[object Object]

Intervention as a Policy Tool ,[object Object]

Chapter 06a

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Chapter 06a