The DOI matches its Crossref record.
Temporary Stabilization: Predetermined Exchange Rates
Abstract
The paper analyzes the impact of a stabilization policy based on a temporary reduction in the rate of devaluation. Against a background in which a constant rate of devaluation has no real effects, it is shown that the temporary policy does and, furthermore, that the real effects tend to become bigger (in absolute value) as the horizon of the temporary policy is shortened. The central discussion is carried out in terms of a one-good, cash-in-advance model, with perfect capital mobility and Ramsey-type consumers. Results are extended to account for home goods and variable velocity; the roles of capital mobility and banking liberalization are briefly discussed.
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Citations
Cited by
Elections and the timing of devaluations
Stein, E. H., & Streb, J. M. (2004) · Journal of International Economics · doi:10.1016/s0022-1996(03)00040-0 · Cited by 81
Metadata
- Authors
- Calvo, G. A.
- Venue
- Journal of Political Economy
- Publisher
- University of Chicago Press
- Published
- 1986-12
- Volume
- 94
- Issue
- 6
- Pages
- 1319-1329
- ISSN
- 0022-3808 (ISSN-L)
- 1537-534X
- OpenAlex
- W2046314922
- Cited by
- 234
- References
- 0
- FWCI
- 11.35
- Type
- journal article
- Language
- en
- Open access
- closed
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How to cite
Cite CoChat for the checks on this page, and the paper for its own findings.
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- CoChat. (2026). Citation check: Temporary Stabilization: Predetermined Exchange Rates. https://app.cochat.ai/papers/10.1086/261435
- The paper
- Calvo, G. A. (1986). Temporary Stabilization: Predetermined Exchange Rates. Journal of Political Economy. https://doi.org/10.1086/261435
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
