Inflation and the Black Market Exchange Rate in a Repressed Market : A Model of Venezuela

A Model of Venezuela

Inflation and the Black Market Exchange Rate in a Repressed Market : A Model of Venezuela
This paper presents a stylized general equilibrium model of the Venezuelan economy. The model explains how the recent sharp fall in oil revenue combines with foreign exchange rationing to produce a steep rise in inflation. Counterintuitively, a devaluation of the official exchange rate could temporarily reduce inflation. The model also explains... READ MORE...

Publication date: August 2016
ISBN 9781475523201
$18.00

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