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150128 ||| eng |
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|a 9781451846195
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| 100 |
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|a Goldfajn, Ilan
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| 245 |
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|a Does Monetary Policy Stabilize the Exchange Rate Following a Currency Crisis?
|c Ilan Goldfajn, Poonam Gupta
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 1999
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| 300 |
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|a 32 pages
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| 651 |
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4 |
|a Brazil
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| 653 |
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|a Monetary policy
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| 653 |
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|a Financial crises
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| 653 |
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|a Financial Markets and the Macroeconomy
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| 653 |
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|a Monetary tightening
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| 653 |
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|a Currency
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| 653 |
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|a Comparative or Joint Analysis of Fiscal and Monetary Policy
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| 653 |
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|a Money and Monetary Policy
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| 653 |
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|a Foreign Exchange
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| 653 |
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|a Real interest rates
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| 653 |
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|a Real exchange rates
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Currency crises
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| 653 |
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|a Financial services
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| 653 |
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|a Exchange rates
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| 653 |
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|a Monetary economics
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| 653 |
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|a Economic & financial crises & disasters
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| 653 |
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|a Monetary Policy
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| 653 |
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|a Finance
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| 653 |
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|a Stabilization
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| 653 |
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|a Foreign exchange
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| 653 |
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|a Treasury Policy
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| 653 |
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|a Interest Rates: Determination, Term Structure, and Effects
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| 653 |
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|a Banks and Banking
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| 653 |
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|a Interest rates
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| 700 |
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|a Gupta, Poonam
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
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|a IMF Working Papers
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| 028 |
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|a 10.5089/9781451846195.001
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| 856 |
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|u https://elibrary.imf.org/view/journals/001/1999/042/001.1999.issue-042-en.xml?cid=2932-com-dsp-marc
|x Verlag
|3 Volltext
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|a 330
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| 520 |
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|a This paper provides evidence on the relationship between monetary policy and the exchange rate in the aftermath of currency crises. It analyzes a large data set of currency crises in 80 countries for the period 1980-98. The main question addressed is: Can monetary policy increase the probability of reversing a postcrisis undervaluation through nominal appreciation rather than higher inflation? We find that tight monetary policy facilitates the reversal of currency undervaluation through nominal appreciation. When the economy also faces a banking crisis, the results are not robust: depending on the specification, tight monetary policies may not have the same effect
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