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This paper shows that the risk of devaluation can be an important factor accounting for the stylized facts of exchange-rate-based stabilizations. This conclusion follows from studying the quantitative implications of a two-sector equilibrium business cycle model of a small open economy...
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This paper shows that the risk of devaluation can be an important factor accounting for the stylized facts of exchange-rate-based stabilizations. This conclusion follows from studying the quantitative implications of a two-sector equilibrium business cycle model of a small open economy...
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Uncertainty about capabilities, intent, or resolve has long been linked to war. More recently, the bargaining model of … war has established uncertainty, also referred to as asymmetric information, as one of the two major causes of costly … to better understand the relationships between information, uncertainty, and war …
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