Collapse of a Crawling Peg Regime in the Presence of a Government Budget Constraint

Collapse of a Crawling Peg Regime in the Presence of a Government Budget Constraint
This study extends the research on balance-of-payments crises by investigating the dynamics of the collapse of a crawling exchange rate in the presence of an explicit link between the fiscal deficit and domestic credit. It shows that such an exchange rate regime is characterized by two potential steady-state equilibria. This introduces an... READ MORE...

Publication date: April 1991
ISBN 9781451846140
$15.00

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