Por Miguel A. Kiguel
Todos sabemos cómo funciona el cepo, y hemos aprendido a vivir con tasas de interés reales negativas, a usar el dólar Contado con Liqui para eludir los controles...
How Much to Commit to an Exchange Rate Rule
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How Much to Commit to an Exchange Rate Rule
Cukierman, Kiguel & Liviatan, 1992.
The cost of reneging is a key reason policymakers hold back from strong commitments in their exchange rate policy. The stronger the commitment to an exchange rate rule, the more costly it is to deviate from it.