04426oam 22012134 450 991082568050332120200520144314.01-4623-2356-11-4527-9251-81-283-51298-X1-4519-0958-69786613825438(CKB)3360000000443535(EBL)3014401(SSID)ssj0000940029(PQKBManifestationID)11479991(PQKBTitleCode)TC0000940029(PQKBWorkID)10948360(PQKB)11665965(OCoLC)698585679(IMF)WPIEE2006245(MiAaPQ)EBC3014401(IMF)WPIEA2006245(EXLCZ)99336000000044353520020129d2006 uf 0engur|n|---|||||txtccrA Small Foreign Exchange Market with a Long-Term Peg : Barbados /Travis Mitchell, Roland Craigwell, Rupert Worrell1st ed.Washington, 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 ratesBarbadosBankingimfBanks and BankingimfBanks and bankingimfBanksimfCurrenciesimfCurrency marketsimfCurrencyimfDepository InstitutionsimfFinanceimfFinance: GeneralimfForeign exchange marketimfForeign exchange transactionsimfForeign ExchangeimfForeign exchangeimfGovernment and the Monetary SystemimfInternational Financial MarketsimfMicro Finance InstitutionsimfMonetary economicsimfMonetary SystemsimfMoney and Monetary PolicyimfMoneyimfMortgagesimfPayment SystemsimfRegimesimfStandardsimfUnited StatesimfForeign exchange marketForeign exchange ratesBankingBanks and BankingBanks and bankingBanksCurrenciesCurrency marketsCurrencyDepository InstitutionsFinanceFinance: GeneralForeign exchange marketForeign exchange transactionsForeign ExchangeForeign exchangeGovernment and the Monetary SystemInternational Financial MarketsMicro Finance InstitutionsMonetary economicsMonetary SystemsMoney and Monetary PolicyMoneyMortgagesPayment SystemsRegimesStandardsMitchell Travis1648519Craigwell Roland1648520Worrell Rupert1648521DcWaIMFBOOK9910825680503321A Small Foreign Exchange Market with a Long-Term Peg4242591UNINA