Feb 1996
Author(s): Gavin, Michael; Hausmann, Ricardo; Perotti, Roberto; Talvi, Ernesto
Latin America is volatile--about two to three times as volatile as the industrial economies. It is more volatile than any region other than Africa and the Middle East. Latin America's access to…
Dec 1995
Author(s): Talvi, Ernesto
In the context of a perfect foresight, intertemporal optimizing, cash-in-advance model, this paper studies the dynamics of an inconsistent exchange rate-based stabilization policy that fixes the…