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150128 ||| eng |
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|a 9781455202164
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|a Medina Guzman, Juan Pablo
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|a Is Exchange Rate Stabilization an Appropriate Cure for the Dutch Disease?
|c Juan Pablo Medina Guzman, Ruy Lama
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2010
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| 300 |
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|a 43 pages
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| 651 |
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4 |
|a Canada
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| 653 |
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|a Wealth
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| 653 |
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|a Economics
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| 653 |
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|a Economic Theory
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| 653 |
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|a Dutch disease
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| 653 |
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|a Saving
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| 653 |
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|a Currency
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| 653 |
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|a Resource Booms
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| 653 |
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|a Economic theory & philosophy
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| 653 |
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|a Economic forecasting
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| 653 |
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|a Foreign Exchange
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| 653 |
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|a Consumption
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| 653 |
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|a Prices
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Macroeconomics: Consumption
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| 653 |
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|a Commodity prices
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| 653 |
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|a Real exchange rates
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| 653 |
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|a Exchange rates
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| 653 |
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|a Foreign exchange
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| 653 |
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|a Commodity Markets
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| 700 |
1 |
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|a Lama, Ruy
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| 041 |
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|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 10.5089/9781455202164.001
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| 856 |
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|u https://elibrary.imf.org/view/journals/001/2010/182/001.2010.issue-182-en.xml?cid=24122-com-dsp-marc
|x Verlag
|3 Volltext
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|a 330
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|a This paper evaluates how successful is a policy of exchange rate stabilization to counteract the negative effects of a Dutch Disease episode. We consider a small open economy model that incorporates nominal rigidities and a learning-by-doing externality in the tradable sector. The paper shows that leaning against an appreciated exchange rate can prevent an inefficient loss of tradable output but at the cost of generating a misallocation of resources in other sectors of the economy. The paper also finds that welfare is a decreasing function of exchange rate intervention. These results suggest that stabilizing the nominal exchange rate in response to a Dutch Disease episode is highly distortionary
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