Devaluation: Levels versus rates
Journal of International EconomicsPublished 1 May 1981
Guillermo A. Calvo
Citations63
SJR quartileQ1
SJR score4.32
SNIP2.82
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Abstract
In a context of infinitely-lived families à la Sidrauski, where consumers are lump-sum compensated for the inflation tax, and there is no capital mobility, it is shown that a devaluation improves while an increase in the rate of devaluation deteriorates the balance of payments.
Keywords
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