Authors: Schabert, Andreas
Title: Exchange rate policy under sovereign default risk
Language (ISO): en
Abstract: We examine monetary policy options for a small open economy where sovereign default might occur due to intertemporal insolvency. Under interest rate policy and floating exchange rates the equilibrium is indetermined. Under a fixed exchange rate the equilibrium is uniquely determined and independent of sovereign default.
Subject Headings: Equilibrium
Intertemporal insolvency
Monetary policy options
Small open economy
URI: http://hdl.handle.net/2003/27609
http://dx.doi.org/10.17877/DE290R-445
Issue Date: 2011-02-08
Appears in Collections:Sonderforschungsbereich (SFB) 823

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