| 000 | 01229cam a2200169 4500500 | ||
|---|---|---|---|
| 005 | 20250112052428.0 | ||
| 041 | _afre | ||
| 042 | _adc | ||
| 100 | 1 | 0 |
_aAllegret, Jean-Pierre _eauthor |
| 700 | 1 | 0 |
_a Calès, Marie-Noëlle _eauthor |
| 245 | 0 | 0 | _aSpeculative Attacks and the Credibility of Exchange Rate Regime |
| 260 | _c2001. | ||
| 500 | _a13 | ||
| 520 | _aSince the Asian and Brazilian exchange rate crises have occurred, the reaction of authorities has been the subject of an intense debate. Indeed, coping with a speculative attack, domestic authorities both increase interest rates and contract fiscal policy. It appears that such a combination of policy instruments is counterproductive. This paper analyses the credibility of the policy-mix used by authorities. But, opposite to traditional credibility models, fiscal policy is explicitly introduced in the loss function of the authorities. The model suggests that a restrictive fiscal policy is not necessary a credible decision to defence the exchange rate target. Classification JEL: E5; E6; F4 | ||
| 786 | 0 | _nRevue économique | 52 | 2 | 2001-03-01 | p. 249-264 | 0035-2764 | |
| 856 | 4 | 1 | _uhttps://shs.cairn.info/journal-revue-economique-2001-2-page-249?lang=en |
| 999 |
_c206407 _d206407 |
||