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- W2488269221 abstract "Abstract This paper analyzes the effects of expectations about future exchange-rate adjustments on the demand for money. These effects are studied empirically for the case of countries which have imposed foreign-exchange restrictions. The results obtained for Brazil, Chile, and Colombia indicate that the demand for money is significantly reduced when expectations of black-market depreciation intensify; and that when this variable (for which the proxy used is the divergence of the black-market exchange rate from purchasing power parity) is omitted from the demand-for-money function, the response of the demand for money to changes in the expected rate of domestic inflation tends to be overestimated." @default.
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- W2488269221 date "1980-01-01" @default.
- W2488269221 modified "2023-09-27" @default.
- W2488269221 title "Black-Market Exchange-Rate Expectations and the Domestic Demand for Money: Some Empirical Results**Reprinted by permission of the North-Holland Publishing Co., from Journal of Monetary Economics, vol. 4, pp. 767-74 (1978)." @default.
- W2488269221 doi "https://doi.org/10.1016/b978-0-08-024041-1.50026-0" @default.
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