Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. Research Department, issuing body.
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| ISBN: | 1455268569
9781455268566
1462382258
9781462382255
1455215201
9781455215201
1281355763
9781281355768
9786613779380
6613779385
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| Notes: | Includes bibliographical references (pages 35-38).
Restrictions unspecified
Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2010.
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. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | The paper examines the role of credibility in the conduct of exchange rate policy in developing countries, the analysis is based on a model in which policymakers are concerned about inflation and external competitiveness. Price setters in the nontraded goods sector of the economy adjust prices in reaction to anticipated fluctuations in the domestic price of tradable goods. This type of model is showm to generate a devaluation bias which undermines the credibility of a fixed exchange rate. the effect of reputational factors, signaling considerations, and joining a currency union as possible solutions to this bias is examined.
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| Other form: | Print version: Agénor, Pierre-Richard. Credibility and exchange rate management in developing countries. [Washington, D.C.] : International Monetary Fund, 1991
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