EconPapers    
Economics at your fingertips  
 

Macroeconomic Implications of Real Exchange Rate Targeting in Developing Countries

Peter Montiel and Jonathan Ostry ()

IMF Staff Papers, 1991, vol. 38, issue 4, 872-900

Abstract: The macroeconomic effects of a variety of exogenous and policy-induced real disturbances are examined under the assumption that the authorities target the level of the real exchange rate. We first discuss the implications--particularly for inflation and the current account--of targeting the rate at an "overdepreciated" level, and then examine the dynamic response of both output and inflation to a number of shocks. Further applications of the model to fiscal explanations of inflation, high-inflation plateaus, and money-based stabilization programs are also considered.

JEL-codes: F30 F41 (search for similar items in EconPapers)
Date: 1991
References: Add references at CitEc
Citations: View citations in EconPapers (24) Track citations by RSS feed

Downloads: (external link)
http://www.jstor.org/stable/3867128?origin=pubexport main text (application/pdf)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Macroeconomic Implications of Real Exchange Rate Targeting in Developing Countries (1991) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:imfstp:v:38:y:1991:i:4:p:872-900

Ordering information: This journal article can be ordered from
http://www.springer. ... cs/journal/41308/PS2

Access Statistics for this article

More articles in IMF Staff Papers from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

 
Page updated 2021-01-20
Handle: RePEc:pal:imfstp:v:38:y:1991:i:4:p:872-900