Fiscal Constraints of a Fixed Exchange Rate Regime

Nopic
The paper considers whether the implementation of a fixed exchange rate regime requires or implies binding constraints on fiscal policy. The main conclusions are that, from a country perspective, the effective constraint is on the degree of monetary financing, which bears an uncertain relationship to the size of the budget deficit; that, from a... READ MORE...

Publication date: December 1989
ISBN 9781451946680
$10.00

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Publication date: December 1989

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