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Calvo Vegh (1993) by lvsaso is a document available to read on EtoBox.

What is Calvo Vegh (1993) about?

This working paper by Guillermo A. Calvo and Carlos A. Vegh examines the dynamics of exchange rate-based stabilization and its effects on aggregate demand within an intertemporal optimizing model. The central finding is that a credible reduction in the rate of devaluation can lead to a decrease in aggregate demand if the intertemporal elasticity of substitution is lower than the elasticity of substitution between traded and home goods. The paper challenges previous notions by suggesting that the initial out

Author

lvsaso

Language

EN