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Stabilization with Exchange Rate Management under Uncertainty

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NBER1987-05-01 更新2025-01-04 收录
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https://www.nber.org/papers/w2268
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Stabilization programs in open economies typically consist of two stages. In the first stage the rate of currency devaluation is reduced, but the fiscal adjustment does not eliminate the fiscal deficit which causes growth of debt and loss of reserves, making a future policy change necessary. Only
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1987-05-01
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