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