Title Exchange rate appreciation as a signal of a new policy stance / by Georg Winckler

Published [Washington, D.C.] : International Monetary Fund, Research Department, 1991

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Description 1 online resource (iii, 15 pages) Series IMF working paper ; WP-91-32 IMF working paper ; WP/91/32. Summary It is shown in a game theoretic framework that it may pay off to signal a conservative policy stance--giving a high priority to price stability--by appreciating the exchange rate. Such an appreciation demonstrates to domestic producers and more precisely to the trade union that the new policy stance is meant to be serious. An example explores the welfare implication for the policy maker and the trade union. the empirical background of the paper refers to the monetary policy in Europe. It explains the occurrence of exchange rate commitments to the deutsche mark, with appreciated rates Bibliography Includes bibliographical references (page 15) Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL Print version record Subject Foreign exchange -- Mathematical models Monetary policy -- Mathematical models. Foreign exchange administration -- Europe Inflation (Finance) Monetary policy -- Europe Inflation, Economic Monetary policy. Inflation (Finance) Foreign exchange administration. Foreign exchange -- Mathematical models. Monetary policy -- Mathematical models. Europe. Form Electronic book Author International Monetary Fund. Research Department, issuing body. ISBN 1455277592 9781455277599

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