Currency boards and currency Crises.
This paper demonstrates how a currency board can become vulnerable to a crisis in which the policymaker is forced to devalue. The model is built from two blocks: first, incomplete information about the devaluation cost faced by the policymaker; and second, unemployment persistence. Incomplete inform...
| Главный автор: | |
|---|---|
| Формат: | Working paper |
| Язык: | English |
| Опубликовано: |
Department of Economics (University of Oxford)
2001
|