The Effect of Exchange Rate Devaluation on a Small Open Economy with an External Debt Overhang

Josef T. Yap

No WP 1988-09, Working Papers from Philippine Institute for Development Studies

Abstract: Devaluation in the presence of an external debt will generally lead to a fall in real output and a rise in prices. Central to this paper is the model that has allowed the author to arrive to the above conclusion.

Keywords: exchange rate policy; devaluation (search for similar items in EconPapers)
Pages: 19
Date: 1988
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