Transitional Exchange Rate Policy in a Low Per Capita Income Country
AbstractIn our intertemporal optimizing model the equilibrium real exchange rate is determined by a sustainable balancing of the current and capital accounts of the balance of payments. Under perfect global capital mobility and managed exchange rate, a rise in expected depreciation of the exchange rate is associated with a fall in money balances. A real wage target translates into a real exchange rate target, that conflicts with the exchange rate required for the intertemporal balance of payments equilibrium.
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Bibliographic InfoPaper provided by Indira Gandhi Institute of Development Research- in its series Papers with number 147.
Length: 30 pages
Date of creation: 1998
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Other versions of this item:
- Ashima Goyal, 2006. "Transitional Exchange Rate Policy In A Low Per Capita Income Country," The IUP Journal of Monetary Economics, IUP Publications, vol. 0(3), pages 37-56, August.
- F31 - International Economics - - International Finance - - - Foreign Exchange
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- Goyal, Ashima, 1999. "The Political Economy of the Revenue Deficit," MPRA Paper 29980, University Library of Munich, Germany.
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