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Advanced search Help. Browse Topics Business and Economics. Archived Series. Previous Article Next Article. Publication Date: 01 Jan ISBN: Language: English Keywords: SP ; interest rate ; rate of inflation ; flexible rate ; aggregate demand ; adjustable peg ; demand management ; Exchange rate arrangements ; Exchange rates ; Inflation ; Exchange rate adjustments ; Exchange rate flexibility ; exchange rate system.
Download PDF 2. Abstract Full Text Related Publications. Abstract This paper is concerned with the generation, transmission, and control of inflation under, alternatively, fixed and floating exchange rate regimes. Effects of the Exchange Rate Regime on the Price Level The exchange rate regime can have an effect on the world price level if it changes either the supply or demand for goods. Crossref Branson , William H. Crossref Cooper , Richard N. Crossref Fieleke , Norman S.
Crossref Fleming , J. Crossref Goldstein , Morris , and Mohsin S. The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is used to check the status whether the user has accepted the cookie consent box. It also helps in not showing the cookie consent box upon re-entry to the website. It remembers which server had delivered the last page on to the browser.
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This cookie is a session cookie version of the 'rud' cookie. It contain the user ID information. Firms have less incentive to cut costs. It is hoped a fixed exchange rate will reduce inflationary expectations. Disadvantages of fixed exchange rates 1. Conflict with other macroeconomic objectives.
To maintain a fixed level of the exchange rate may conflict with other macroeconomic objectives. If a currency is under pressure and falling — the most effective way to increase the value of a currency is to raise interest rates. This will increase hot money flows and also reduce inflationary pressures. However higher interest rates will cause lower aggregate demand AD and lower economic growth, If the economy is growing slowly this may cause a recession and rising unemployment.
Sterling was in the ERM between and But, left in Sept , causing large devaluation. We use cookies on our website to collect relevant data to enhance your visit. Our partners, such as Google use cookies for ad personalization and measurement. However, you may visit "Cookie Settings" to provide a controlled consent.
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