On Credible Disinflation /
We study the effects of a credible, gradual exchange rate based disinflation program in a two sector economy. After an initial real exchange rate depreciation, the reductions in the rate of devaluation reduce the monetary wedge generated by a cash in advance constraint, leading to a gradual increase...
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| Формат: | Журнал |
| Язык: | English |
| Опубликовано: |
Washington, D.C. :
International Monetary Fund,
1993.
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| Серии: | IMF Working Papers; Working Paper ;
No. 1993/090 |
| Online-ссылка: | Full text available on IMF |