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 …

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

, and the role of exchange-rate devaluation is to lower the real value of wages, thereby reducing involuntary unemployment …

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

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 …

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 …