Openness and Inflation: Theory and Evidence
收藏NBER1991-12-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w3936
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资源简介：
This paper points out and tests a straight forward but previously unnoticed prediction of models in which the absence of precommitment in monetary policy leads to excessive inflation. Because unanticipated monetary expansion leads to real exchange rate depreciation, and because the harms of real
提供机构：
美国国家经济研究局
创建时间：
1991-12-01
