| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w2866 |
| 来源ID | Working Paper 2866 |
| Devaluation Crises and the Macroeconomic Consequences of Postponed Adjustment in Developing Countries | |
| Sebastian Edwards; Peter Montiel | |
| 发表日期 | 1989-02-01 |
| 出版年 | 1989 |
| 语种 | 英语 |
| 摘要 | This paper develops our analytical model to explore the relationship between the dynamics of macroeconomic adjustment and the timing of the implementation of an adjustment program featuring an official devaluation. The effects of postponing adjustment depend on the source of the original shock, In the case of fiscal expansion, postponement implies a larger eventual official devaluation and greater deviations of macroeconomic variables from their steady-state values. For adverse terms of trade shocks, postponement does not affect the size of the eventual official devaluation, but does magnify the amount of post-devaluation overshooting by key macroeconomic variables. |
| 主题 | International Economics |
| URL | https://www.nber.org/papers/w2866 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/560133 |
| 推荐引用方式 GB/T 7714 | Sebastian Edwards,Peter Montiel. Devaluation Crises and the Macroeconomic Consequences of Postponed Adjustment in Developing Countries. 1989. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w2866.pdf（1098KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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