Riding the Wave: Monetary Responses to Aid Surges in Low-Income Countries.
We focus on the management of highly persistent shocks to aid flows in the presence of currency substitution by the domestic private sector. Such shocks have beneficent long-run effects, but when currency substitution is high they can produce dramatic macroeconomic management problems in the short r...
| Main Authors: | , , , |
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| Format: | Journal article |
| Published: |
Elsevier
2008
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