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|z 9781475523201
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Cerra, Valerie.
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|a Inflation and the Black Market Exchange Rate in a Repressed Market :
|b A Model of Venezuela /
|c Valerie Cerra.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2016.
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|a 1 online resource (52 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 presents a stylized general equilibrium model of the Venezuelan economy. The model explains how the recent sharp fall in oil revenue combines with foreign exchange rationing to produce a steep rise in inflation. Counterintuitively, a devaluation of the official exchange rate could temporarily reduce inflation. The model also explains how the hyper-depreciation of the black market exchange rate reflects prices in the most distorted goods markets.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 2016/159
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2016/159/001.2016.issue-159-en.xml
|z IMF e-Library
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