Currency Depreciation, Hoarding, and Relative Prices
Bibliographic Data
| ID | 10172809 |
|---|---|
| Authors | Rüdiger Dornbusch (corresponding author) |
| Year | 1973 |
| Volume | 81 |
| Issue | 4 |
| Pages | 893-915 |
| Publication date | 1973-07-01 |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0022-3808 • E-ISSN: 1537-534X |
| Publisher | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/260087 |
| OpenAlex | W2055402717 |
| Language | EN |
| Citations received | 12 |
This paper investigates the effects of devaluation in a two-commodity, two- country, and two-money model with full employment and price flexibility. Primary emphasis is placed on the effect of a change in the real value of money on real expenditure and on the effects on relative prices of a redistribution of expenditure between countries. The stability properties of the model are related to the transfer problem in barter theory and to the Marshall-Lerner condition. Given stability, it is shown that a devaluation will improve the balance of payments
Balance of payments · Barter · Currency · Depreciation (economics · Devaluation · Economics · Hoarding (animal behavior · Macroeconomics · Microeconomics · Monetary economics · Monetary policy · Price of stability · Profit (economics · Relative price · Economic theories and models · Economic Theory and Policy · Monetary Policy and Economic Impact
Devaluation, Equi-proportional Export Subsidies and Import Tariffs, and Transfer Payments
Short-Run and Long-Run Effects of External Disturbances under a Floating Exchange Rate
The Exchange Rate Regime and Economic Policy in Theory and in Practice
A geography of money
Exchange rate versus credit policy
A Model of Exchange Rate Dynamics
The Effects of Devaluation on the Trade Balance and the Balance of Payments
A Strategic Analysis of Monetary Interdependence
International Transmission of Stagflation under Fixed and Flexible Exchange Rates
Is-Lm-Bp
Monetary Populism in Nineteenth-Century America
Aspectos deflacionarios de la devaluación del peso mexicano de 1976
| Citations per year | 0.24 |
|---|---|
| Citation span | 1976 - 2004 (29) |
| Highly cited | No |