Exchange Rate Appreciation As a Signal of a New Policy Stance /
It is shown in a game theoretic framework that it may pay off to signal a 'conservative' policy stance--giving a high priority to price stability--by appreciating the exchange rate. Such an appreciation demonstrates to domestic producers and more precisely to the trade union that the new p...
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| 格式: | 雜誌 |
| 語言: | English |
| 出版: |
Washington, D.C. :
International Monetary Fund,
1991.
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| 叢編: | IMF Working Papers; Working Paper ;
No. 1991/032 |
| 在線閱讀: | Full text available on IMF |