01730cas a2200253 a 4500 AALejournalIMF000264 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451927900 1018-5941 BD-DhAAL BD-DhAAL Iqbal, Zubair. External Stability Under Alternative Nominal Exchange Rate Anchors : An Application to the GCC Countries / Zubair Iqbal, S. Erbas. Washington, D.C. : International Monetary Fund, 1997. 1 online resource (36 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Import and export stability is examined under two alternative nominal exchange rate anchors, the U.S. dollar and the SDR. Stability under the two pegs depends critically on import and export elasticity with respect to exchange rates. The implications of import and export elasticity for an optimal currency basket are also explored. The elasticity estimates for the GCC countries suggest that the SDR peg may not outperform the dollar peg in improving external stability. Nevertheless, switching to some other nominal exchange rate anchor may improve external stability, a possibility that remains to be explored. Mode of access: Internet Erbas, S. IMF Working Papers; Working Paper ; No. 1997/008 Full text available on IMF http://elibrary.imf.org/view/journals/001/1997/008/001.1997.issue-008-en.xml IMF e-Library