Pegs, Downward Wage Rigidity, and Unemployment: The Role of Financial Structure
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This paper studies the relationship between financial structure and the welfare consequences of fixed exchange rate regimes in small open emerging economies with downward nominal wage rigidity. The paper presents two surprising results. First, a pegging economy might be better off with a closed than
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美国国家经济研究局创建时间：
2012-07-01
