Inflation and the Black Market Exchange Rate in a Repressed Market : A Model of Venezuela /

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 tempora...

وصف كامل

التفاصيل البيبلوغرافية
المؤلف الرئيسي: Cerra, Valerie
التنسيق: دورية
اللغة:English
منشور في: Washington, D.C. : International Monetary Fund, 2016.
سلاسل:IMF Working Papers; Working Paper ; No. 2016/159
الوصول للمادة أونلاين:Full text available on IMF
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245 1 0 |a Inflation and the Black Market Exchange Rate in a Repressed Market :   |b A Model of Venezuela /  |c Valerie Cerra. 
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300 |a 1 online resource (52 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |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. 
538 |a Mode of access: Internet 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2016/159 
856 4 0 |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