Alternative dual exchange market regimes : some steady state comparisons /
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Author / Creator: | Lizondo, José Saúl, author. |
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Imprint: | [Washington, D.C.] : International Monetary Fund, Research Department, [1990] |
Description: | 1 online resource (ii, 24 pages) : illustrations. |
Language: | English |
Series: | IMF working paper ; WP/90/90 IMF working paper ; WP/90/90. |
Subject: | |
Format: | E-Resource Book |
URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12496249 |
Summary: | This paper compares two alternative dual exchange market regimes. In one of them, the official market clears through changes in international reserves, while in the other regime, the central bank implements a rationing scheme so as to keep international reserves constant. The paper discusses the effects on the rate of inflation, the balance of payments, the real exchange rate, and the spread between the free and the official exchange rate, of various economic policies, including exchange rate policy, fiscal policy, and unification of the exchange markets. It concludes that the steady state effects for most of these policies are qualitatively the same under both regimes. |
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Physical Description: | 1 online resource (ii, 24 pages) : illustrations. |
Format: | Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. |
Bibliography: | Includes bibliographical references (page 24). |
ISBN: | 1455273619 9781455273614 1462350976 9781462350971 9781451951851 145195185X |