Interest Rate Defenses of Currency Pegs /
This paper studies a policy often used to defend a currency peg: raising short-term interest rates. The rationale for this policy is to stem demand for foreign reserves. Yet, this mechanism is absent from most monetary models. This paper develops a general equilibrium model with asset market frictio...
| Κύριος συγγραφέας: | |
|---|---|
| Μορφή: | Επιστημονικό περιοδικό |
| Γλώσσα: | English |
| Έκδοση: |
Washington, D.C. :
International Monetary Fund,
2004.
|
| Σειρά: | IMF Working Papers; Working Paper ;
No. 2004/085 |
| Διαθέσιμο Online: | Full text available on IMF |