Disinflation and Overvaluation

Rüdiger Dornbusch

Chapter 12 in The Political Dimension of Economic Growth, 1998, pp 227-242 from Palgrave Macmillan

Abstract: Abstract For the most part, currency crises are not accidents. They come at the tail-end of a disinflation strategy that has relied too heavily on the nominal exchange rate. The question is why policy-makers should run the risk of a currency collapse. The jury is still out, but the experiences of three countries reviewed here offer some ideas.

Keywords: Exchange Rate; Current Account; Real Exchange Rate; Real Wage; Nominal Exchange Rate (search for similar items in EconPapers)
Date: 1998
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DOI: 10.1007/978-1-349-26284-7_12

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