Exchange Rate Appreciation As a Signal of a New Policy Stance

Exchange Rate Appreciation As a Signal of a New Policy Stance
It is shown in a game theoretic framework that it may pay off to signal a "conservative" policy stance--giving a high priority to price stability--by appreciating the exchange rate. Such an appreciation demonstrates to domestic producers and more precisely to the trade union that the new policy stance is meant to be serious. An example explores... READ MORE...

Publication date: March 1991
ISBN 9781451845068
$15.00

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