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| Author: | Chen, Xuebin |
| Title: | An analysis of international balance of payment and effect of currency devaluation based on game theory (original in Chinese) |
| Journal: | Economic Research Journal (c)
1998 : 5, p.12-21 |
| Index terms: | BALANCE OF PAYMENTS CURRENT VALUE ACCOUNTING GAME THEORY |
| Language: | chn |
| Abstract: | Under the hypothesis of complete information, this essay tentatively discusses currency policy behaviours of balancing international payment deficit and their effects. The analysis shows that without considering capital account, currency policies which are carried out as the circumstance direct have a tendency of devaluation when there's a deficit in current account. However, under the condition of complete information, the public can foresee government's behaviours accurately. Therefore, devaluation of the currency will only intensify the domestic inflation and will not better the balance of payments position. |
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