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Parallel markets, the foreign exchange auction, and exchange rate unification in Zambia

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Stabilization policies in developing countries with a parallel market for foreign exchange : a formal framework

Agénor, Pierre-Richard - In: Macroeconomic models for adjustment in developing countries, (pp. 201-233). 1991

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Stabilization policies in developing countries with a parallel market for foreign exchange : a formal framework

Agénor, Pierre-Richard - In: Staff papers / International Monetary Fund 37 (1990) 3, pp. 560-592

Persistent link: https://www.econbiz.de/10001098106

Stabilization Policies in Developing Countries with a Parallel Market for Foreign Exchange : A Formal Framework

Agénor, Pierre-Richard - 1990

The paper develops and tests a model of a developing economy that incorporates trade and capital restrictions, illegal transactions, a parallel foreign exchange market, currency substitution features, and forward-looking rational expectations. Temporary expansionary demand policies are...