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...

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Príomhchruthaitheoir: Agenor, Pierre-Richard
Formáid: IRIS
Teanga:English
Foilsithe / Cruthaithe: Washington, D.C. : International Monetary Fund, 1994.
Sraith:IMF Working Papers; Working Paper ; No. 1994/075
Rochtain ar líne:Full text available on IMF

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