Devaluation, the Terms of Trade, and Investment in a Keynesian Economy

Michael Gavin
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Michael Gavin: Columbia University

Chapter 2 in Open-Economy Macroeconomics, 1993, pp 29-45 from Palgrave Macmillan

Abstract: Abstract Obviously, a decrease in investment is unlikely to result from devaluation … the most favourable plausible hypothesis about the effect of devaluation on home investment is that it remains unchanged in real terms. (Black (1959) p. 269)

Keywords: Monetary Policy; Real Exchange Rate; Aggregate Demand; Domestic Investment; Replacement Cost (search for similar items in EconPapers)
Date: 1993
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-12884-6_2

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DOI: 10.1007/978-1-349-12884-6_2

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