On sluggish output and exchange rate dynamics once again
This paper examines a model of exchange rate dynamics which incorporates sluggish output adjustment into the Dornbusch variable output model. In this model where both the price level and output cannot jump, the interest rate must decline in response to a monetary expansion so as to maintain money ma...
| Published in: | Philippine Review of Economics and Business (formerly The Philippine Review of Business and Economics) Vol. XXXIV, no. 1 (Jun. 1997), 50-70 |
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| Main Author: | |
| Format: | Article |
| Language: | English |
| Published: |
1997
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| Subjects: |