| 000 -LEADER |
|---|
| fixed length control field |
01117pab a2200181 454500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
|---|
| fixed length control field |
180718b2003 xxu||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME |
|---|
| Personal name |
Goldfajn, Ilan |
| 245 ## - TITLE STATEMENT |
|---|
| Title |
Does monetary policy stabilize the exchange rate following a currency crisis? |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. |
|---|
| Date of publication, distribution, etc. |
2003 |
| 300 ## - PHYSICAL DESCRIPTION |
|---|
| Extent |
p.90-114. |
| 520 ## - SUMMARY, ETC. |
|---|
| Summary, etc. |
This paper provides evidence on the relationship between monetary policy and the exchange rate in the aftermath of currency crises. It analzes a large dataset of currency crises in 80 countries for the period 1980-98. The main question addressed is whether monetary policy can increase the probability of reversing a postcrisis undervaluation through nominal appreciation rather than higher inflation. We find that tight monetary policy facilitates the reversal of currency undervaluation through nominal appreciation. When the economy also faces a banking crisis, the results are not robust and depend on the specification. - Reproduced. |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name entry element |
Economic recession |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name entry element |
Exchange rates |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name entry element |
Monetary policy |
| 700 ## - ADDED ENTRY--PERSONAL NAME |
|---|
| Personal name |
Gupta, Poonam |
| 773 ## - HOST ITEM ENTRY |
|---|
| Main entry heading |
IMF Staff Papers |
| 909 ## - |
|---|
| -- |
56435 |
