it evaluates the experiences of Brazil and Mexico. The model relates inflation in the 1980s to interest payments on the …The paper develops a model of seigniorage in an open economy, linking inflation, the government budget and the external …

inflation and depreciation rates. We use a first-generation type model of speculative attacks which has four key features: (i … the crises; (iii) a portion of the government's liabilities are not indexed to inflation; and (iv) there are nontradable … account for the high rates of devaluation and moderate rates of inflation often observed in the wake of currency crises. We …

inflation and depreciation rates. We use a first-generation type model of speculative attacks which has four key features: (i … the crises; (iii) a portion of the government's liabilities are not indexed to inflation; and (iv) there are nontradable … account for the high rates of devaluation and moderate rates of inflation often observed in the wake of currency crises. We …

This paper explores the implications of different strategies for financing the fiscal cost of twin crises for inflation … crises; (iii) a portion of the government's liabilities are not indexed to inflation; and (iv) there are nontradable goods … account for the high rates of devaluation and moderate rates of inflation often observed in the wake of currency crises. We …