04372oam 22011894 450 991078840810332120230828232653.01-4623-2356-11-4527-9251-81-283-51298-X1-4519-0958-69786613825438(CKB)3360000000443535(EBL)3014401(SSID)ssj0000940029(PQKBManifestationID)11479991(PQKBTitleCode)TC0000940029(PQKBWorkID)10948360(PQKB)11665965(OCoLC)698585679(MiAaPQ)EBC3014401(IMF)WPIEE2006245(EXLCZ)99336000000044353520020129d2006 uf 0engur|n|---|||||txtccrA Small Foreign Exchange Market with a Long-Term Peg : Barbados /Travis Mitchell, Roland Craigwell, Rupert WorrellWashington, D.C. :International Monetary Fund,2006.1 online resource (20 p.)IMF Working Papers"October 2006."1-4518-6505-8 Includes bibliographical references.""Contents""; ""I. INTRODUCTION""; ""II. THE INSTITUTIONAL FRAMEWORK""; ""III. THEORETICAL CONSIDERATIONS""; ""IV. DATA, METHODOLOGY, AND RESULTS""; ""V. CONCLUSIONS AND NEXT STEPS""; ""REFERENCES""This paper is a first analysis of daily transactions in the foreign exchange market of Barbados, a small open economy that has had an unchanged peg to the U.S. dollar for over 30 years. As a result of the credibility of the peg, we expect that capital flows will respond to differentials between U.S. and comparable Barbadian interest rates and that this will result in uncovered interest parity, when allowance is made for market frictions and large discrete events. The results are consistent with this hypothesis about the motivation for foreign exchange transactions.IMF Working Papers; Working Paper ;No. 2006/245Foreign exchange marketBarbadosForeign exchange ratesBarbadosBanks and BankingimfFinance: GeneralimfForeign ExchangeimfMoney and Monetary PolicyimfInternational Financial MarketsimfMonetary SystemsimfStandardsimfRegimesimfGovernment and the Monetary SystemimfPayment SystemsimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfFinanceimfCurrencyimfForeign exchangeimfMonetary economicsimfBankingimfCurrency marketsimfCurrenciesimfForeign exchange transactionsimfForeign exchange marketimfMoneyimfBanks and bankingimfUnited StatesimfForeign exchange marketForeign exchange ratesBanks and BankingFinance: GeneralForeign ExchangeMoney and Monetary PolicyInternational Financial MarketsMonetary SystemsStandardsRegimesGovernment and the Monetary SystemPayment SystemsBanksDepository InstitutionsMicro Finance InstitutionsMortgagesFinanceCurrencyForeign exchangeMonetary economicsBankingCurrency marketsCurrenciesForeign exchange transactionsForeign exchange marketMoneyBanks and bankingMitchell Travis1574035Craigwell Roland1574036Worrell Rupert1485192DcWaIMFBOOK9910788408103321A Small Foreign Exchange Market with a Long-Term Peg3850052UNINA