Intertemporal equilibrium optimizing models have recently become the standard framework for analyzing such macroeconomic issues as terms of trade, fiscal or trade policy, international transfers, supply shocks, and technological progress. In the model Lizondo presents, sustainable fiscal policies produce an equilibrium real exchange rates, and unsustainable policies produce misaligned exchange rates. When the exchange rate is overvalued, maintaining...
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INFORMATION
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1989/08/31
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Document de travail de recherche sur les politiques
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WPS223
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1
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1
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2010/07/01
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Overvalued and undervalued exchange rates in an equilibrium optimizing model
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real exchange rate
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