Prudential Policy for Peggers
收藏NBER2012-05-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w18031
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资源简介：
This paper shows that in a small open economy model with downward nominal wage rigidity pegging the nominal exchange rate creates a negative pecuniary externality. This peg-induced externality is shown to cause unemployment, overborrowing, and depressed levels of consumption. The paper characterizes
提供机构：
美国国家经济研究局
创建时间：
2012-05-01
