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International financial system (Exchange regimes (Fixed (What are the…
International financial system
Exchange regimes
Hybrid
Floating
Fixed
Bretton Woods System
Gold standard
How does it work?
What are the problems?
Unwanted reserve accumulation
speculative attacks
Loss of int'l reserves
Exchange rate targeting as monetary policy strategy
Advantages disadvantages
Currency boards
Dollarization
How do international considerations affect monetary policy
Balance of payments considerations
Key items of BOP
Exchange rate considerations
Direct effects of central bank exchange rate intervention
Unsterilized: changes MB
Sterilized: does not change MB
The policy trilemma
Free capital mobility
Capital control
Fixed exchange rate
Independent monetary policy