Всего публикаций в данном разделе: 47
Uribe M. Real exchange rate targeting and macroeconomic instability [Текст] / M. Uribe. Cambridge : National Bureau of Economic Research, 2002. 31 p. (NBER working paper series ; 9294). [книга]
Опубликовано на портале: 15-07-2004
Using an optimizing model of a small open economy, this paper studies the macroeconomic effects of PPP rules whereby the government increases the devaluation rate when the real exchange rate defined as the price of tradables in terms of nontradables is below its long-run level and reduces the devaluation rate when the real exchange rate is above its long-run level. The paper shows that the mere existence of such a rule can generate aggregate fluctuations due to self-fulfilling revisions in expectations. The result is shown to obtain in both flexible- and sticky-price environments.
Опубликовано на портале: 02-09-2003Frederick van der Ploeg, Ben J. Heijdra
Oxford: Oxford University Press, 2002
This comprehensive textbook for a core course in modern macroeconomics deals with all the major topics, summarizes the important approaches, and gives students a coherent angle on all aspects of macroeconomic thought. Each chapter deals with a separate area of macroeconomics, and each contains a summary section of key points and a further reading list.