IS-LM-BP in the Pampas

Céspedes, Luis Felipe; Chang, Roberto; and Velasco, AndresORCID logo (2003) IS-LM-BP in the Pampas [Working paper]
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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 Working paper
Departments ?? SCPP ??
School of Public Policy
Date Deposited 14 Oct 2019 15:33
URI https://researchonline.lse.ac.uk/id/eprint/102089

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