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|Title: ||Devaluation (levels versus rates) and balance of payments in a cash-in-advance economy|
|Authors: ||Petrucci, Alberto|
|Keywords: ||Devaluation; Balance of payments; Cash-in-advance constraint; Overlapping generations.|
|Issue Date: ||14-Apr-2003|
|Abstract: ||This paper investigates the consequences of the currency devalution, both in
levels and rates, on the balance of payments in a cash-in-advance economy with
finite horizons, endogenous capital accumulation and international capital immobility.
In this context, a once and for all currency devaluation induces a balance
of payments surplus, whereas a sustained increase in the rate of devaluation produces,
in principle, an ambiguous effect on the balance of payments. If however
|Appears in Collections:||4 - REPEC|
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