devaluations. There are two types of fiscal policies equivalent to an exchange rate devaluation-one, a uniform increase in import …We show that even when the exchange rate cannot be devalued, a small set of conventional fiscal instruments can … robustly replicate the real allocations attained under a nominal exchange rate devaluation in a dynamic New Keynesian open …

Unconventional fiscal policy uses announcements of future increases in consumption taxes to generate inflation … the effectiveness of such policies using changes in value-added tax (VAT) and household survey data for Poland. We find … households increased their inflation expectations and willingness to purchase durables before the increase in VAT. Future …

tax induces endogenous state-contingent wealth effects via fiscal adjustment and suboptimal investment. Devaluation risk …This paper shows that the risk of devaluation can be an important factor accounting for the stylized facts of exchange …

address the issue of contractionary devaluations. The extended model considers the effect of money surprises, fiscal factors … procedure on data for 12 developing countries, provide some support to the short-run contractionary devaluation hypothesis; the … results obtained indicate that in the short-run a devaluation will generate a decline in aggregate output. It is also found …

devaluation of the exchange rate shortens implicit price contracts and increases the rate of price adjustment in the nontraded … devaluation …

devaluation) and domestic monetary conditions in explaining interest rates movement. The model is tested using quarterly data for …, and that world interest rates, the rate of devaluation and domestic monetary conditions have affected domestic nominal …

to the magnitude of the expected devaluation and to the length of the transitional period off loating. An implication of …

Motivated by the long-standing debate on the pros and cons of competitive devaluation, we propose a new perspective on …

redenomination policies to mitigate adverse financial and relative price consequences from a large devaluation. An analysis of … Argentina's policy of devaluation with redenomination in 2002, in contrast to Mexico's policy of devaluation without debt … redenomination in 1994-1995, shows that devaluation benefited tradables firms, and that dollar debt redenomination in Argentina …