Gradual Versus Big-Bang Devaluations : An Empirical Analysis

Gradual Versus Big-Bang Devaluations : An Empirical Analysis

This paper examines the pros and cons of gradual versus big-bang approaches toward devaluations. It presents original empirical evidence regarding output, consumption, investment and trade balances associated with gradual and big-bang devaluation e...

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Main Authors: Geiger, Michael, Nguyen, Ha, Nguyen, Houng
Format: Working Paper
Language:English
Published: World Bank, Washington, DC 2018
Subjects:
CURRENCY DEVALUATION
MONETARY POLICY
TRADE BALANCE
INVESTMENT
CAPITAL FLOWS
CONSUMPTION
FISCAL POLICY
Online Access:http://documents.worldbank.org/curated/en/844181541168364950/Gradual-Versus-Big-Bang-Devaluations-An-Empirical-Analysis
http://hdl.handle.net/10986/30918
id okr-10986-30918
recordtype oai_dc
spelling okr-10986-309182021-05-25T09:56:19Z Gradual Versus Big-Bang Devaluations : An Empirical Analysis Geiger, Michael Nguyen, Ha Nguyen, Houng CURRENCY DEVALUATION MONETARY POLICY TRADE BALANCE INVESTMENT CAPITAL FLOWS CONSUMPTION FISCAL POLICY This paper examines the pros and cons of gradual versus big-bang approaches toward devaluations. It presents original empirical evidence regarding output, consumption, investment and trade balances associated with gradual and big-bang devaluation episodes. It finds that big-bang devaluations are associated with lower output, investment and consumption, while gradual devaluations are not associated with any contemporaneous drops. Five case studies of gradual devaluations are also conducted. 2018-11-28T22:07:49Z 2018-11-28T22:07:49Z 2018-10 Working Paper http://documents.worldbank.org/curated/en/844181541168364950/Gradual-Versus-Big-Bang-Devaluations-An-Empirical-Analysis http://hdl.handle.net/10986/30918 English MTI Discussion Paper,no. 8; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Working Paper
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic CURRENCY DEVALUATION
MONETARY POLICY
TRADE BALANCE
INVESTMENT
CAPITAL FLOWS
CONSUMPTION
FISCAL POLICY
spellingShingle CURRENCY DEVALUATION
MONETARY POLICY
TRADE BALANCE
INVESTMENT
CAPITAL FLOWS
CONSUMPTION
FISCAL POLICY
Geiger, Michael
Nguyen, Ha
Nguyen, Houng
Gradual Versus Big-Bang Devaluations : An Empirical Analysis
relation MTI Discussion Paper,no. 8;
description This paper examines the pros and cons of gradual versus big-bang approaches toward devaluations. It presents original empirical evidence regarding output, consumption, investment and trade balances associated with gradual and big-bang devaluation episodes. It finds that big-bang devaluations are associated with lower output, investment and consumption, while gradual devaluations are not associated with any contemporaneous drops. Five case studies of gradual devaluations are also conducted.
format Working Paper
author Geiger, Michael
Nguyen, Ha
Nguyen, Houng
author_facet Geiger, Michael
Nguyen, Ha
Nguyen, Houng
author_sort Geiger, Michael
title Gradual Versus Big-Bang Devaluations : An Empirical Analysis
title_short Gradual Versus Big-Bang Devaluations : An Empirical Analysis
title_full Gradual Versus Big-Bang Devaluations : An Empirical Analysis
title_fullStr Gradual Versus Big-Bang Devaluations : An Empirical Analysis
title_full_unstemmed Gradual Versus Big-Bang Devaluations : An Empirical Analysis
title_sort gradual versus big-bang devaluations : an empirical analysis
publisher World Bank, Washington, DC
publishDate 2018
url http://documents.worldbank.org/curated/en/844181541168364950/Gradual-Versus-Big-Bang-Devaluations-An-Empirical-Analysis
http://hdl.handle.net/10986/30918
_version_ 1764473180030763008

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