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The author constructs a macroeconomic model of planned economy and derives a currency basket that will stabilize the current account. The exchange rate is incorporated in a monetary system so as to derive consistent money and price targets. Having derived weights for the currency basket...
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We construct a macroeconomic model of a planned economy and derive a currency basket that will stabilize the current account. The exchange rate is incorporated in a monetary system so as to derive consistent money and price targets. If the planners have access to foreign loans, they may target a...
Persistent link: https://www.econbiz.de/10014057010