Dynamics of Devaluation and "Equivalent" Fiscal Policies for a Small Open Economy.

In pursuing a steady-state reserve target, policymakers in small open economies can resort to devaluation or to temporary increases in public saving. This paper contrasts the dynamic implications of these alternative policies in a model with optimizing agents who possess perfect foresight. In genera...

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Dettagli Bibliografici
Ente Autore: International Monetary Fund
Natura: Periodico
Lingua:English
Pubblicazione: Washington, D.C. : International Monetary Fund, 1989.
Serie:IMF Working Papers; Working Paper ; No. 1989/001
Accesso online:Full text available on IMF