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| Author: | Onour, I. |
| Title: | Unification of dual foreign exchange markets |
| Journal: | Economics of Planning
2000 : VOL. 33:3, p. 171-184 |
| Index terms: | FOREIGN EXCHANGE MARKET POLICY MACROECONOMIC MODELS |
| Language: | eng |
| Abstract: | In this paper the author investigates the impact of overnight floating of the official rate and easing foreign exchange restrictions on post-unification domestic inflation rate. After analysing the behavior of an economy under dual foreign exchange markets, an official market with a crawling foreign exchange rate and a free illegal parallel market. The paper also shows that maintaining a unified free exchange rate depends on the degree of foreign exchange restrictions under dual foreign exchange system. |
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