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- W1978641325 abstract "This paper analyzes the effects of changes in the exchange rate and the foreign price level in a stochastic model in which domestic agents form expectations about possible changes in these variables. The general conclusion to emerge is that the impact of such changes on the domestic economy depend critically upon (a) the extent to which such changes are predicted, and (b) in some cases the permanency with which they are expected to prevail. The short-run and dynamic effects of a number of specific changes are examined in detail and it is shown how a variety of transitional paths may arise, depending upon the accuracy of expectations with respect to both timing and magnitude." @default.
- W1978641325 created "2016-06-24" @default.
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- W1978641325 date "1981-02-01" @default.
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- W1978641325 title "The effects of devaluation and foreign price disturbances under rational expectations" @default.
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- W1978641325 doi "https://doi.org/10.1016/0022-1996(81)90043-x" @default.
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