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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| Materyal Türü: | Dergi |
| Dil: | English |
| Baskı/Yayın Bilgisi: |
Washington, D.C. :
International Monetary Fund,
1994.
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| Seri Bilgileri: | IMF Working Papers; Working Paper ;
No. 1994/075 |
| Online Erişim: | Full text available on IMF |