Credibility and business cycles in exchange rate based stabilization programmes
Differently from orthodox stabilization programmes, exchange rate based stabilization programmes (ERBS) show a peculiar cycle. Output, growth and consumption rise from the onset and there is a huge current account deficit. Since several programmes have been accompanied by huge capital inflows, the e...
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London School of Economics and Political Science (University of London)
1998
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| Online Access: | http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.645518 |