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Global Imbalances and Destabilizing Speculation by Heiner Flassbeck and Massimiliano La Marca. is a nonfiction available to read on EtoBox.

What is Global Imbalances and Destabilizing Speculation about?

Global imbalances have become a major source of systemic risk to the global economy. They can have adverse repercussions in the short and long term on both surplus and deficit economies due to the potentially disruptive effect of a sudden adjustment. They can be amplified by short term speculation that prevents the real exchange rate to perform its adjusting role. The paper examines past and recent patterns of destabilizing short term speculative flows that have led to financial fragility and real costs for a number of various economies. Domestic policies aimed at preventing speculation and overvaluation such as non- monetary anti-inflationary policies as well as temporary measures to constrain speculative flows should be coupled with globally coordinated policies to reduce global imbalances. Among the latter intermediate exchange rate regimes or regional cooperative schemes should be favoured. An international monetary system should provide a code of conduct, multilateral oversight and negotiations, and a multilateral body that could identify the size of the deviation enforce the necessary measures to correct the imbalances.

Who reads Global Imbalances and Destabilizing Speculation?

Author

Heiner Flassbeck and Massimiliano La Marca.

Language

EN

Category

nonfiction

Subjects

Business, Economics