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AALejournalIMF007589 |
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|c 5.00 USD
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|z 9781451923230
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Agenor, Pierre-Richard.
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|a Stabilization Policies in Developing Countries with a Parallel Market for Foreign Exchange :
|b A Formal Framework /
|c Pierre-Richard Agenor.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1990.
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| 300 |
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|a 1 online resource (44 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a The paper develops and tests a model of a developing economy that incorporates trade and capital restrictions, illegal transactions, a parallel foreign exchange market, currency substitution features, and forward-looking rational expectations. Temporary expansionary demand policies are associated with an increase in output and prices, a fall in the stock of net foreign assets, and a depreciation of the parallel exchange rate. The speed of adjustment is inversely related to the degree of rationing in the official foreign currency market. A once-for-all devaluation of the official exchange rate has no long-term effect on the premium.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 1990/016
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1990/016/001.1990.issue-016-en.xml
|z IMF e-Library
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