Holdings: Fiscal Policy and the Predictability of Exchange Rate Collapse

Fiscal Policy and the Predictability of Exchange Rate Collapse:

It is well known that the long-run viability of a fixed exchange rate regime imposes constraints on monetary policy. This paper shows that, in a model with forward-looking agents, short-run viability imposes a fiscal constraint. When policy change, which destroys long-run viability, also violates th...

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Bibliographic Details
Main Author:	Daniel, Betty C. (Author)
Format:	Electronic eBook
Language:	English
Published:	Washington, D.C International Monetary Fund 1997
Series:	IMF Working Papers Working Paper No. 97/133
Online Access:	UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext
Summary:	It is well known that the long-run viability of a fixed exchange rate regime imposes constraints on monetary policy. This paper shows that, in a model with forward-looking agents, short-run viability imposes a fiscal constraint. When policy change, which destroys long-run viability, also violates the fiscal constraint, collapse is instantaneous. Delayed predictable collapse requires satisfaction of the fiscal constraint
Physical Description:	1 Online-Ressource (18 p)
ISBN:	1451855451 9781451855456

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spelling	Daniel, Betty C. Verfasser aut Fiscal Policy and the Predictability of Exchange Rate Collapse Daniel, Betty C Washington, D.C International Monetary Fund 1997 1 Online-Ressource (18 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 97/133 It is well known that the long-run viability of a fixed exchange rate regime imposes constraints on monetary policy. This paper shows that, in a model with forward-looking agents, short-run viability imposes a fiscal constraint. When policy change, which destroys long-run viability, also violates the fiscal constraint, collapse is instantaneous. Delayed predictable collapse requires satisfaction of the fiscal constraint Online-Ausg http://elibrary.imf.org/view/IMF001/02510-9781451855456/02510-9781451855456/02510-9781451855456.xml Verlag URL des Erstveröffentlichers Volltext
spellingShingle	Daniel, Betty C. Fiscal Policy and the Predictability of Exchange Rate Collapse
title	Fiscal Policy and the Predictability of Exchange Rate Collapse
title_auth	Fiscal Policy and the Predictability of Exchange Rate Collapse
title_exact_search	Fiscal Policy and the Predictability of Exchange Rate Collapse
title_exact_search_txtP	Fiscal Policy and the Predictability of Exchange Rate Collapse
title_full	Fiscal Policy and the Predictability of Exchange Rate Collapse Daniel, Betty C
title_fullStr	Fiscal Policy and the Predictability of Exchange Rate Collapse Daniel, Betty C
title_full_unstemmed	Fiscal Policy and the Predictability of Exchange Rate Collapse Daniel, Betty C
title_short	Fiscal Policy and the Predictability of Exchange Rate Collapse
title_sort	fiscal policy and the predictability of exchange rate collapse
url	http://elibrary.imf.org/view/IMF001/02510-9781451855456/02510-9781451855456/02510-9781451855456.xml
work_keys_str_mv	AT danielbettyc fiscalpolicyandthepredictabilityofexchangeratecollapse

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