Fiscal Policy and the Predictability of Exchange Rate Collapse /
It is well known that the long-run viability of a fixed exchange rate regime imposes constraints on monetary policy. This paper shows that, in a model with forward-looking agents, short-run viability imposes a fiscal constraint. When policy change, which destroys long-run viability, also violates th...
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| 格式: | 雜誌 |
| 語言: | English |
| 出版: |
Washington, D.C. :
International Monetary Fund,
1997.
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| 叢編: | IMF Working Papers; Working Paper ;
No. 1997/133 |
| 在線閱讀: | Full text available on IMF |