Monetary and fiscal policies, endogenous currency substitution, and exchange rate volatility
This paper employs two small, open economy macro models of exchange rate determination - a portfolio balance model and an asset market model - to examine the implications of endogenous currency substitution on exchange rate volatility arising from monetary and fiscal policies. It is shown that, in b...
| Published in: | Philippine Review of Economics and Business (formerly The Philippine Review of Business and Economics) Vol. XXXV, no. 1 (Jun. 1998), 1-26 |
|---|---|
| Main Author: | |
| Format: | Article |
| Language: | English |
| Published: |
1998
|
| Subjects: |