Devaluation and portfolio balance

This article introduces two classes of bonds into the analysis of devaluation in asset markets. The major conclusions of previous research hold even when before devaluation the economy has a position, whether creditor or debtor, in foreign currency denominated market instruments. In the long run, a...

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Bibliographic Details
Main Author: Boyer, Russell S
Format: Book
Published: Nashville American Economic Association March 1977
Series:American Economic Review n. 2
Subjects: