The Behavior of Real Interest Rates in Exchange-Rate Based Stabilization Programs /

This paper examines the behavior of real interest rates in exchange-rate based stabilization programs. The analysis is based on a model with imperfect capital mobility and optimizing agents. A permanent reduction in the devaluation rate is first shown to have an ambiguous effect on real interest rat...

Täydet tiedot

Bibliografiset tiedot
Päätekijä: Agenor, Pierre-Richard
Aineistotyyppi: Aikakauslehti
Kieli:English
Julkaistu: Washington, D.C. : International Monetary Fund, 1994.
Sarja:IMF Working Papers; Working Paper ; No. 1994/075
Linkit:Full text available on IMF