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01734cas a2200241 a 4500 |
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|c 5.00 USD
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|z 9781451925845
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a International Monetary Fund.
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|a Devaluation Crises and the Macroeconomic Consequences of Postponed Adjustment in Developing Countries.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1989.
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| 300 |
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|a 1 online resource (38 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 This paper develops a small analytical model to explore the relationship between the dynamics of macroeconomic adjustment and the timing of the implementation of an adjustment program featuring a nominal devaluation. The effects of postponing adjustment depend on the source of the original shock. In the case of a fiscal expansion, postponement implies a larger eventual devaluation and greater deviations of macroeconomic variables from their steady-state values. For adverse terms of trade shocks, postponement does not affect the size of the eventual devaluation, but does magnify the degree of post-devaluation overshooting by key macroeconomic variables.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 1989/011
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1989/011/001.1989.issue-011-en.xml
|z IMF e-Library
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