IS-LM-BP in the Pampas /

Emerging markets (sometimes endowed with fertile pampas) have limited access to world capital markets and suffer from original sin: they cannot borrow in their own currency. Does this mean that monetary and exchange rate policy has non-standard effects in such countries? We develop a simple IS-LM-BP...

Ausführliche Beschreibung

1. Verfasser:

Cespedes, Luis Felipe

Körperschaft:

National Bureau of Economic Research

Weitere Verfasser:

Chang, Roberto, Velasco, Andres

Format:

Elektronisch E-Book

Sprache:

Englisch

Veröffentlicht:

Cambridge, Mass. National Bureau of Economic Research 2002.

Zusammenfassung:

Emerging markets (sometimes endowed with fertile pampas) have limited access to world capital markets and suffer from original sin: they cannot borrow in their own currency. Does this mean that monetary and exchange rate policy has non-standard effects in such countries? We develop a simple IS-LM-BP model with balance sheet effects to study that question. Our answer: it all depends.

Umfang:

1 online resource: illustrations (black and white);

Anmerkungen:

November 2002.

Schlagworte:

General