Trade and Welfare Under Alternative Exchange Rate Regimes

This paper compares the welfare under two standard alternative exchange rate regimes, fixed and flexible, in a stochastic dynamic general equilibrium two-country setting. Conventional wisdom holds that countries often prefer low exchange-rate variability to stabilize trade. This may explain the observed `fear of floating' in emerging markets -- although most of them claim to adopt a flexible system, in reality they often intervene to peg. We show that under incomplete capital markets a fixed exchange rate regime unambiguously increases trade and improves welfare. This provides a potential explanation for the observed exchange rate policies in emerging markets.optimal exchange rates

On Improvement in Estimating Population Parameter(s) Using Auxiliary Information

The purpose of writing this book is to suggest some improved estimators using auxiliary information in sampling schemes like simple random sampling and systematic sampling. This volume is a collection of five papers. The following problems have been discussed in the book: In chapter one an estimator in systematic sampling using auxiliary information is studied in the presence of non-response. In second chapter some improved estimators are suggested using auxiliary information. In third chapter some improved ratio-type estimators are suggested and their properties are studied under second order of approximation. In chapter four and five some estimators are proposed for estimating unknown population parameter(s) and their properties are studied. This book will be helpful for the researchers and students who are working in the field of finite population estimation.Comment: 63 pages, 8 tables. Educational Publishing & Journal of Matter Regularity (Beijing