Exchange rate strategies for small open developed economies such as New Zealand

Nils Bjorksten and Anne-Marie Brook
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Anne-Marie Brook: Reserve Bank of New Zealand

Reserve Bank of New Zealand Bulletin, 2002, vol. 65, No 1

Abstract: Changes in the global financial system, together with new experience with fixed and floating exchange rates, have resulted in a reassessment of exchange rate strategies for both developed and emerging market economies. The emergence of a currency union in Europe has been seen by some as showing the path forward in the continuing integration process of developed nations, including New Zealand. In view of the large swings in the New Zealand exchange rate over the past decade, some attention has recently been paid to alternative exchange rate strategies that might allow for reductions in exchange rate variability, and potentially better economic growth performance. This article discusses these issues. It is an edited version of a paper presented by the Reserve Bank to an economic workshop on Exchange Rate Strategies for Developed Open Economies in the New Millennium, held in February 2002. Papers presented at this workshop are available at: http://www.rbnz.govt.nz/research/workshops/111791/0111791-02.html#P99_2657

Date: 2002
Note: Papers presented at this workshop are available at: http://www.rbnz.govt.nz/research/workshops/111791/0111791-02.html#P99_2657
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