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