haku: @author Velasco, A. / yhteensä: 10
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| Tekijä: | Céspedes, L.F. Chang, R. Velasco, A. |
| Otsikko: | IS-LM-BP in the pampas |
| Lehti: | IMF Staff papers
2003 : VOL. 50: Special issue, p. 143-156 |
| Asiasana: | Capital markets Emerging markets Exchange rates Argentina |
| Kieli: | eng |
| Tiivistelmä: | Emerging markets (sometimes endowed with fertile pampas) have limited access to world capital markets and suffer from original sin: they cannot borrow in their own currency. Does this mean that monetary and exchange rate policies have non-standard effects in such countries? A simple IS-LM-BP model with balance sheet effects is developed to study that question. The authors' answer is: it all depends. |
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