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IS-LM-BP in the Pampas

Céspedes, Luis Felipe, Chang, Roberto and Velasco, Andres ORCID: 0000-0003-0441-5062 (2003) IS-LM-BP in the Pampas. IMF Staff Papers, 50 (Special Issue). International Monetary Fund, Washington, DC.

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Emerging markets (sometimes endowed with fertile pampas) have limited access to world capital markets and suffer from original sin: they cannot borrow in their own currency. Does this mean that monetary and exchange rate policies have nonstandard effects in such countries? We develop a simple IS-LM-BP model with balance sheet effects to study that question. Our answer: it all depends.

Item Type: Monograph (Working Paper)
Additional Information: © 2003 International Monetary Fund
Divisions: School of Public Policy
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Subjects: H Social Sciences > HG Finance
Date Deposited: 14 Oct 2019 15:33
Last Modified: 16 May 2024 12:16

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