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- W2051118459 abstract "Abstract The paper analyzes the macroeconomic effects of devaluation in a general equilibrium model of a developing country in which controls on interest rates and foreign exchange restrictions lead to the emergence of informal financial markets. The complexity of the model precludes an analytical treatment. A simulation approach, based on parameters derived from estimates in the existing literature, is used to explore how the existence of informal financial markets causes the effects of an official devaluation to be felt before the devaluation itself occurs." @default.
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- W2051118459 date "1993-10-01" @default.
- W2051118459 modified "2023-09-27" @default.
- W2051118459 title "Macroeconomic effects of anticipated devaluations with informal financial markets" @default.
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- W2051118459 doi "https://doi.org/10.1016/0304-3878(93)90076-y" @default.
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