When Are Fixed Exchange Rates Really Fixed?

This paper analyzes the sustainability of fixed exchange rates by extending the Barro-Gordon framework to a fully dynamic context in which the level of a state variable (in this case debt) determines the payoffs available to the government at each point of time.

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Year of publication:	1996
Authors:	Velasco, A.
Institutions:	C.V. Starr Center for Applied Economics, Department of Economics
Subject:	EXCHANGE RATE \| FINANCIAL POLICY

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Extent:	application/pdf
Series:	Working Papers.
Type of publication:	Book / Working Paper
Notes:	24 pages
Classification:	E52 - Monetary Policy (Targets, Instruments, and Effects) ; F31 - Foreign Exchange ; O32 - Management of Technological Innovation and R&D
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005264325