Real Effects of Exchange Rate-Based Stabilization: An Analysis of Competing Theories / Sergio Rebelo, Carlos A. Vegh.

Format:

Book

Author/Creator:

Rebelo, Sergio.

Contributor:

National Bureau of Economic Research.

Vegh, Carlos A.

Series:

Working Paper Series (National Bureau of Economic Research) no. w5197.

NBER working paper series no. w5197

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

Real Effects of Exchange Rate-Based Stabilization

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 1995.

Summary:

This paper uses a unified analytical framework to assess, both qualitatively and quantitatively, the relevance of the different hypotheses that have been proposed to explain the real effects of exchange rate-based stabilizations. The four major hypotheses analyzed are: (i) the supply-side effects associated with an inflation decline; (ii) the perception that the exchange rate peg is temporary; (iii) the fiscal adjustments that tend to accompany the peg; and (iv) the existence of nominal rigidities in wages or prices.

Notes:

Print version record

July 1995.