|
|
|
|
| LEADER |
01671cas a2200253 a 4500 |
| 001 |
AALejournalIMF002766 |
| 008 |
230101c9999 xx r poo 0 0eng d |
| 020 |
|
|
|c 5.00 USD
|
| 020 |
|
|
|z 9781451849912
|
| 022 |
|
|
|a 1018-5941
|
| 040 |
|
|
|a BD-DhAAL
|c BD-DhAAL
|
| 100 |
1 |
|
|a Calvo, Guillermo.
|
| 245 |
1 |
0 |
|a Exchange-Rate-Based Stabilization under Imperfect Credibility /
|c Guillermo Calvo, Carlos Vegh Gramont.
|
| 264 |
|
1 |
|a Washington, D.C. :
|b International Monetary Fund,
|c 1991.
|
| 300 |
|
|
|a 1 online resource (34 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 analyzes stabilization policy under predetermined exchange rates in a cash-in-advance, staggered-prices model. Under full credibility, a reduction in the rate of devaluation results in an immediate and permanent reduction in the inflation rate, with no effect on output or consumption. In contrast, a non-credible stabilization results in an initial expansion of output, followed by a later recession. The inflation rate of home goods remains above the rate of devaluation throughout the program, thus resulting in a sustained real exchange rate appreciation.
|
| 538 |
|
|
|a Mode of access: Internet
|
| 700 |
1 |
|
|a Vegh Gramont, Carlos.
|
| 830 |
|
0 |
|a IMF Working Papers; Working Paper ;
|v No. 1991/077
|
| 856 |
4 |
0 |
|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1991/077/001.1991.issue-077-en.xml
|z IMF e-Library
|