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|z 9781451846195
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|a 1018-5941
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|a Goldfajn, Ilan.
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|a Does Monetary Policy Stabilize the Exchange Rate Following a Currency Crisis? /
|c Ilan Goldfajn, Poonam Gupta.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1999.
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|a 1 online resource (32 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper provides evidence on the relationship between monetary policy and the exchange rate in the aftermath of currency crises. It analyzes a large data set of currency crises in 80 countries for the period 1980-98. The main question addressed is: Can monetary policy increase the probability of reversing a postcrisis undervaluation through nominal appreciation rather than higher inflation? We find that tight monetary policy facilitates the reversal of currency undervaluation through nominal appreciation. When the economy also faces a banking crisis, the results are not robust: depending on the specification, tight monetary policies may not have the same effect.
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|a Mode of access: Internet
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|a Gupta, Poonam.
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|a IMF Working Papers; Working Paper ;
|v No. 1999/042
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1999/042/001.1999.issue-042-en.xml
|z IMF e-Library
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