Title: Currency devaluation, aggregate output, and the long run: an empirical study
Abstract: This paper estimates the effect of currency devaluation on the aggregate output level in six Asian countries using a unique methodology developed by Wickens et al. (1988; Economic Journal 189–205). The estimated results suggest that devaluation, in general, is neutral in the long run. In some cases it even can have a contractionary effect.
Publication Year: 1999
Publication Date: 1999-08-01
Language: en
Type: article
Indexed In: ['crossref']
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Cited By Count: 68
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