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Exchange Rates Under the East Asian Dollar Standard : Living With Conflicted Virtue (Paperback)

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Product Overview

McKinnon develops a conceptual framework to show where the conventional wisdom on exchange rates has gone wrong. Pressure on the "virtuous" high-saving dollar-creditor East Asian nations to appreciate their currencies leads to a "conflicted" choice between a possible deflationary slump if they do appreciate and threatened trade sanctions if they do not. Analyzing interactions among the East Asian economies, McKinnon explains the rationale, and the need, for greater exchange-rate security in the region, pointing to the soft-dollar pegs adopted by these nations as steps in the right direction. He suggests that the dollar standard in East Asia could be rationalized through collective action by national governments and considers the effect of American monetary and trade policies on the East Asian economy.

Specifications

Publisher Mit Pr
Mfg Part# 9780262633413
SKU 202632843
Format Paperback
ISBN10 0262633418
Release Date 4/10/2007
Product Attributes
Book Format Paperback
Minimum Age 22
Number of Pages 0279
Publisher MIT Press (MA)
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