Prudential Policy for Peggers
收藏数据链接：
官方服务：
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
