Data/hora: 03/06/2024 01:16:31

Provedor de dados: 	31	
País: 	United States	
Título: 	Nominal Debt and the Dynamics of Currency Crises	
Autores: 	Corsetti,   Giancarlo; MacKowiak,   Bartosz.	
Data: 	2006-01-30	
Ano: 	2000	
Palavras-chave: 	Currency crisis; Speculative attacks; Fiscal policy; Financial Economics; F31; F33; E58.	
Resumo: 	We study the interaction of fiscal and monetary policies during a currency crisis in an economy with government nominal liabilities. We show that the stock and maturity of these liabilities are key determinants of the magnitude, timing and predictability of a devaluation. Among notable features of our model, monetary authorities defend the currency parity conditional on the level of the interest rate, rather than on the stock of international reserves; budget deficits need not be high before a currency crisis; postdevaluation inflation may exhibit little persistence, and money demand need not fall after the crisis.	
Tipo: 	Working or Discussion Paper	
Idioma: 	Inglês	
Identificador: 	19697

http://purl.umn.edu/28516	
Editor: 	AgEcon Search	
Relação: 	Yale University&gt;Economic Growth Center&gt;Center Discussion Papers

Center Discussion Paper No. 820	
Formato: 	35

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