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Publication Detail
WP 1988-09: The Effect of Exchange Rate Devaluation on a Small Open Economy with an External Debt Overhang

Devaluation in the presence of an external debt will generally lead to a fall in real output and a rise in prices. Central to this paper is the model that has allowed the author to arrive to the above conclusion.

Philippine Institute for Development Studies
Authors Keywords
Yap, Josef T.; exchange rate policy; devaluation;
Download PDF Number of Downloads
Published in 1988 and available in the PIDS Library or Downloaded 1,066 times since November 25, 2011
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