| 来源类型 | FEEM working papers "Note di lavoro" series
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| 规范类型 | 论文
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| Devaluation (Levels versus Rates) and Balance of Payments in a Cash-in-Advance Economy |
| Alberto Petrucci
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| 发表日期 | 2002
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| 出处 | Economy and Society
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| 出版年 | 2002
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| 语种 | 英语
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| 摘要 | This paper investigates the consequences of the currency devaluation, both in levels and rates, on the balance of payments in a cash-in-advance economy with finite horizons, endogenous capital accumulation and international capital immobility. In this context, a once and for all currency devaluation induces a balance of payments surplus, whereas a sustained increase in the rate of devaluation produces, in principle, an ambiguous effect on the balance of payments. If however non-restrictive assumptions on some structural parameters are made, an increase in the devaluation rate leads to a balance of payments surplus, the exact opposite of Calvo's result (1981). |
| 特色分类 | E21,E62
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| 关键词 | Devaluation,balance of payments,cash-in-advance constraint,overlapping generations
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| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/devaluation-levels-versus-rates-and-balance-of-payments-in-a-cash-in-advance-economy/
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| 来源智库 | Fondazione Eni Enrico Mattei (Italy)
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/116729
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推荐引用方式
GB/T 7714 |
Alberto Petrucci. Devaluation (Levels versus Rates) and Balance of Payments in a Cash-in-Advance Economy. 2002.
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