Devaluation Crises and the Macroeconomic Consequences of Postponed Adjustment in Developing Countries
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This paper develops our analytical model to explore the relationship between the dynamics of macroeconomic adjustment and the timing of the implementation of an adjustment program featuring an official devaluation. The effects of postponing adjustment depend on the source of the original shock, In
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美国国家经济研究局创建时间：
1989-02-01
