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Publication Detail
SP 1984-06: Modeling the Effects of Devaluation on Prices, Output and the Trade Balance: The Philippine Experience

Based on the assumption that the economy undertaking the devaluation is a small open economy, this paper presents the following model: monetarist small country model with importables and exportables but without non-tradables, monetarist small country model with importables and exportables but with non-tradables and model of sticky prices of non-traded goods. While devaluation could still improve the trade balance as suggested by these models, analysis of the effects of devaluation in a small open economy using the models presented here is more appropriate than those on the traditional elasticities approach.

Philippine Institute for Development Studies
Authors Keywords
Gonzales, Maria Cecilia; economic/development modelling; trade sector; devaluation; econometric modeling; price level;
Download PDF Number of Downloads
Published in 1984 and available in the PIDS Library or Downloaded 361 times since November 25, 2011
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