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Real versus Financial Openness under Alternative Exchange Rate Regimes / Michael Bruno.
- Format:
- Book
- Author/Creator:
- Bruno, Michael.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w0785.
- NBER working paper series no. w0785
- Language:
- English
- Subjects (All):
- Equilibrium (Economics)--Congresses.
- Equilibrium (Economics).
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1981.
- Cambridge, Mass. : National Bureau of Economic Research, 1981.
- Summary:
- A simple analytical framework is used to consider alternative exchange rate regimes and their bearing on macroeconomic management of a semi- industrial economy. The emphasis is on the implications of different degrees of capital mobility. One of the topics taken up is the conflict between the role of the real exchange rate as a signaling device for long-run resource allocation and the problem of real exchange rate appreciation accompanying the opening up of an economy to short-term capital inflow. Also discussed is the related choice of exchange rate policy as an anti-inflation device.
- Notes:
- Print version record
- October 1981.
- Includes bibliographical references.
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