Bad Dreams Under Alternative Anchors : Are the Consequences Different? /
Using a simple model, this paper shows how a strict monetary rule exhibits characteristics similar to those of an exchange rate anchor, in terms of a lack of robustness in the presence of adverse expectations ('bad dreams'). More specifically, as an anticipated devaluation under an exchang...
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| Format: | Revista |
| Idioma: | English |
| Publicat: |
Washington, D.C. :
International Monetary Fund,
2000.
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| Col·lecció: | IMF Working Papers; Working Paper ;
No. 2000/020 |
| Accés en línia: | Full text available on IMF |