Bohn, Frank - In: Jahrbücher für Nationalökonomie und Statistik 233 (2013) 5-6, pp. 562-574
Summary Planned ‘‘surprise’’ devaluations are often spurred by non-economic circumstances: a rentseeking government; political instability; or the opportunity to put the blame on a predecessor government. In this paper, these aspects are incorporated in the monetary and fiscal policy...