Dinero, tipo de cambio y expectativas
Two dynamic models are developed in this essay. In both models the rate of inflation, the exchange rate variations and the rate of output growth are determined. They are different only in the treatment of exchange rate expectations. The first one includes adaptive expectations and the second one works with rational expectations. In the new steady state equilibrium, after a decrease in the rate of growth of money, there is a proportionate decreasing in the rates of inflation and depreciation. However, the models work in different ways in the trajectory towards the equilibrium.
|Date of creation:||1995|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: (511) 626-2000 ext. 4950, 4951
Fax: (511) 626-2874
Web page: http://departamento.pucp.edu.pe/economia/Email:
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:pcp:pucwps:wp00122. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.