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Real Effects of Exchange-rate-based Stabilization

其他書名	An Analysis of Competing Theories
出版	National Bureau of Economic Research, 1995
URL	http://books.google.com.hk/books?id=NFSyAAAAIAAJ&hl=&source=gbs_api

註釋This paper uses a unified analytical framework to assess, both qualitatively and quantitatively, the relevance of the different hypotheses that have been proposed to explain the real effects of exchange rate-based stabilizations. The four major hypotheses analyzed are: (i) the supply-side effects associated with an inflation decline; (ii) the perception that the exchange rate peg is temporary; (iii) the fiscal adjustments that tend to accompany the peg; and (iv) the existence of nominal rigidities in wages or prices.