ESCAPE CLAUSES AND TARGETING OF THE REAL EXCHANGE RATE: THE CASE OF NOMINAL EXCHANGE RATE PEGGING
We consider an economy under a fixed exchange rate system, but with bounds (a minimum level or a band) on the real exchange rate. The international price of the tradable good is characterized by the continuous arrival of shocks that change its level. In a model with microfoundations, we investigate...
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| Language: | English |
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ILADES. Universidad Alberto Hurtado.
2010
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| Online Access: | http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-88702010000100005 |
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