Exchange-Rate-Based Stabilization under Imperfect Credibility /
This paper analyzes stabilization policy under predetermined exchange rates in a cash-in-advance, staggered-prices model. Under full credibility, a reduction in the rate of devaluation results in an immediate and permanent reduction in the inflation rate, with no effect on output or consumption. In...
| Autor principal: | |
|---|---|
| Outros Autores: | |
| Formato: | Periódico |
| Idioma: | English |
| Publicado em: |
Washington, D.C. :
International Monetary Fund,
1991.
|
| coleção: | IMF Working Papers; Working Paper ;
No. 1991/077 |
| Acesso em linha: | Full text available on IMF |