The Italian Lira in the Narrow Erm Band : The Challenge of Credibility /
Under free capital mobility, a high-inflation country pursuing a nonaccommodating exchange rate policy will have higher real interest rates than its lower-inflation trading partners as long as that policy is not credible. If the policy gains credibility prior to inflation convergence, the sign of th...
| Hlavní autor: | |
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| Médium: | Časopis |
| Jazyk: | English |
| Vydáno: |
Washington, D.C. :
International Monetary Fund,
1991.
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| Edice: | IMF Working Papers; Working Paper ;
No. 1991/019 |
| On-line přístup: | Full text available on IMF |