Working paper
Riding the wave: monetary responses to aid surges in low-income countries
- Abstract:
-
We focus on the management of highly persistent shocks to aid flows, including HIPC or MDG-related increases in net flows, in the presence of currency substitution by the domestic private sector. Such shocks have beneficent long-run effects, but when currency substitution is high they can produce dramatic macroeconomic management problems in the sort run. What is the appropriate mix of money and exchange rate targeting in such cases, and the role of temporary sterilization? We analyze these a...
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- Publication status:
- Published
- Peer review status:
- Not peer reviewed
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Bibliographic Details
- Series:
- CSAE working paper series
- Place of publication:
- http://www.csae.ox.ac.uk/workingpapers/main-wps.html
- Publication date:
- 2006-01-01
Item Description
- Language:
- English
- Keywords:
- Subjects:
- UUID:
-
uuid:a48cff70-bc43-4cfe-854f-815f0d01448c
- Local pid:
- ora:2608
- Deposit date:
- 2009-02-16
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- Copyright holder:
- Edward Buffie, Christopher Adam, Stephen O'Connell & Catherine Pattillo
- Copyright date:
- 2006
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