Exchange Restrictions and Devaluation Crises /
This paper develops a model of devaluation crises for an economy where foreign exchange restrictions lead to the emergence of a parallel market. The devaluation rule relates the size of the parity change to the spread between the official and parallel exchange rates. The mechanism that triggers the...
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| Format: | Tidsskrift |
| Sprog: | English |
| Udgivet: |
Washington, D.C. :
International Monetary Fund,
1990.
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| Serier: | IMF Working Papers; Working Paper ;
No. 1990/084 |
| Online adgang: | Full text available on IMF |