Exchange Rate Policy and Debt Crises in Emerging Economies /
We explore a model intended to capture the interaction between exchange rate policy, fiscal policy, and outright default on foreign-currency denominated debt. We examine how the exchange rate affects the supply of short-term debt facing the government. We show that under a credible hard peg (currenc...
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| Format: | Revija |
| Jezik: | English |
| Izdano: |
Washington, D.C. :
International Monetary Fund,
2003.
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| Serija: | IMF Working Papers; Working Paper ;
No. 2003/060 |
| Online dostop: | Full text available on IMF |