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- W2007165909 abstract "A general equilibrium model shows how the government, by using aggregate demand policies, temporarily influences economic activity. In the long run, however, aggregate supply determines output and employment levels. International reserves are lost (gained) during the adjustment process due to policies which keep aggregate demand above (below) its long-run sustainable level. Such policies, if maintained, induce expectations of exchange rate changes. The self-fulfilling character of these expectations will force the government to devalue or revalue, thus neutralizing its previous demand policies." @default.
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- W2007165909 date "1976-02-01" @default.
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- W2007165909 title "The effects of changes in the exchange rate on output, prices and the balance of payments" @default.
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- W2007165909 doi "https://doi.org/10.1016/0022-1996(76)90023-4" @default.
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