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Author/Editor:
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Bhattacharya, Rina
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Publication Date:
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June 01, 2003
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Electronic Access:
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Free Full text
(PDF file size is 1,090KB).
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.
The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
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Summary:
This paper addresses the issue of the appropriate exchange rate regimes for Jordan and Lebanon in the context of the literature on optimum currency areas and the arguments concerning the use of the exchange rate as a nominal anchor for the economy. It presents some empirical results on the nature of output shocks in Jordan and Lebanon in the recent past, on the price sensitivity of exports from Jordan, and on currency and asset substitution in both countries. It does not directly address the issue of whether the current exchange rate in either country is overvalued or not, nor does it discuss the issue of an appropriate exit strategy from the current peg.
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Order a print copy
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Series:
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Working Paper No. 03/137
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Subject(s):
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Exchange rate regimes | Jordan | Lebanon | Currency pegs
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Author's Keyword(s):
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exchange rate regime | optimum currency area | nominal anchor |
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English
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Publication Date:
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June 01, 2003
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ISBN/ISSN:
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1934-7073
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Format:
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Paper
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Stock No:
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WPIEA1372003
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Pages:
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41
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Price:
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US$15.00 )
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Please address any questions about this title to
publications@imf.org
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