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The paper reviews an event of 30 years ago from the perspective of today: a successful G-5 initiative to reverse what had been an overvalued dollar. The “Plaza Accord” is best viewed not as the precise product of the meeting on September 22, 1985, but as shorthand for a historic change in US...
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, holds regardless whether the devaluation takes place in the context of an IMF program. Why are devaluations so costly? Many … devaluation. There are various possible contractionary effects of devaluation, but it is appropriate that the balance sheet effect … costliness of the devaluation when it finally comes. In the longer term, greater openness to trade reduces vulnerability to both …
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, holds regardless whether the devaluation takes place in the context of an IMF program. Why are devaluations so costly? Many … devaluation. There are various possible contractionary effects of devaluation, but it is appropriate that the balance sheet effect … costliness of the devaluation when it finally comes. In the longer term, greater openness to trade reduces vulnerability to both …
Persistent link: https://www.econbiz.de/10012467146