Real Exchange Rate Targeting Under Capital Controls : Can Money Provide a Nominal Anchor?

Can Money Provide a Nominal Anchor?

Real Exchange Rate Targeting Under Capital Controls : Can Money Provide a Nominal Anchor?
This paper examines the issue of whether the money supply can serve as a nominal anchor for the domestic price level under real exchange rate targeting. When capital controls are perfect so that there is complete separation between official and unofficial markets for foreign exchange, the domestic inflation rate can be stabilized, but only at... READ MORE...

Publication date: July 1991
ISBN 9781451961010
$15.00

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