Adjustment to Monetary Policy and Devaluation Under Two-Tier and Fixed Exchange Rate Regimes
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The purpose of this paper is to determine whether a two-tier exchange rate regime is more effective than a fixed rate regime in increasing acountry's ability to pursue an independent monetary policy in the short run.The analysis compares adjustment to a monetary policy and to a devaluation in the
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美国国家经济研究局创建时间：
1983-04-01
