Tenuous Financial Stability
dc.contributor.author | Valev, Neven T. | en_US |
dc.contributor.author | Carlson, John A. | en_US |
dc.date.accessioned | 2006-08-01T15:47:30Z | |
dc.date.available | 2006-08-01T15:47:30Z | |
dc.date.issued | 2003-02-01 | en_US |
dc.identifier.other | RePEc:wdi:papers:2003-540 | en_US |
dc.identifier.uri | https://hdl.handle.net/2027.42/39925 | en_US |
dc.description.abstract | Many countries fix their exchange rate in order to bring financial stability. Usually, inflation declines and output expands but contractual agreements retain their short time frame, investment is sluggish, and economic growth slows down a few years later. This outcome is often attributed to persistent doubts on the part of agents in the commitment and ability of the government to maintain the peg. Yet direct evidence for credibility is difficult to obtain. Unique survey data from Bulgaria reveal that expectations of devaluation were indeed very much present three, four, and five years after that country achieved financial stability under a currency board regime. | en_US |
dc.format.extent | 60314 bytes | |
dc.format.extent | 3151 bytes | |
dc.format.extent | 299254 bytes | |
dc.format.mimetype | text/plain | |
dc.format.mimetype | text/plain | |
dc.format.mimetype | application/pdf | |
dc.language.iso | en_US | en_US |
dc.relation.ispartofseries | 540 | en_US |
dc.subject | Credibility, Currency Boards, Stabilization Programs | en_US |
dc.subject.other | E63, O11 | en_US |
dc.title | Tenuous Financial Stability | en_US |
dc.type | Working Paper | en_US |
dc.subject.hlbsecondlevel | Economics | en_US |
dc.subject.hlbtoplevel | Business | en_US |
dc.description.bitstreamurl | http://deepblue.lib.umich.edu/bitstream/2027.42/39925/3/wp540.pdf | en_US |
dc.owningcollname | William Davidson Institute (WDI) - Working Papers |
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