Lahiri, Amartya. Singh, Rajesh Kumar, 1961- Vegh, Carlos A. National Bureau of Economic Research. text bibliography text mau 2007 monographic Cambridge, MA National Bureau of Economic Research c2007 eng

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"This paper revisits the issue of the optimal exchange rate regime in a flexible price environment. The key innovation is that we analyze this question in the context of environments where only a fraction of agents participate in asset market transactions (i.e., asset markets are segmented). Under this friction, alternative exchange rate regimes have different implications for real allocations in the economy. In particular -- and contrary to standard results under sticky prices -- we show that flexible exchange rates are optimal under monetary shocks and fixed exchange rates are optimal under real shocks"--National Bureau of Economic Research web site. Amartya Lahiri, Rajesh Singh, Carlos A. Vegh. Title from PDF file as viewed on 7/26/2007. Includes bibliographical references. Also available in print. System requirements: Adobe Acrobat Reader. Mode of access: World Wide Web. HB1 https://hdl.loc.gov/loc.gdc/gdcebookspublic.2007616309 http://papers.nber.org/papers/w13154 working paper no. 13154 2007616309 aacr DLC 070726 20250607021455.2 14942453 Converted from MARCXML to MODS version 3.8 using MARC21slim2MODS3-8_XSLT1-0.xsl (Revision 1.172 20230208)