Limits of Floating Exchange Rates : The Role of Foreign Currency Debt and Import Structure

The Role of Foreign Currency Debt and Import Structure

Limits of Floating Exchange Rates : The Role of Foreign Currency Debt and Import Structure
A traditional argument in favor of flexible exchange rates is that they insulate output better from real shocks, because the exchange rate can adjust and stabilize demand for domestic goods through expenditure switching. This argument is weakened in models with high foreign currency debt and low exchange rate pass-through to import prices. The... READ MORE...

Publication date: February 2011
ISBN 9781455219001
$18.00

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