Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/87839 
Erscheinungsjahr: 
1994
Schriftenreihe/Nr.: 
Working Paper No. 303
Verlag: 
Inter-American Development Bank, Office of the Chief Economist, Washington, DC
Zusammenfassung: 
Conventional wisdom claims that fixed exchange rates provide more fiscal discipline than do flexible rates, but the recent experiences in Europe, the record of Sub-Saharan countries in the 1980s, and the history of stabilization attempts in Latin America cast empirical doubts on this wisdom. To explore this puzzle we present a standard intertemporal model with perfect capital mobility and price flexibility, in which fiscal policy is endogenously determined by a maximizing fiscal authority.
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
43.52 kB





Publikationen in EconStor sind urheberrechtlich geschützt.