Sachs, Jeffrey. <br/><br/>
Real Exchange Rate Effects of Fiscal Policy / 
Jeffrey Sachs, Charles Wyplosz. 
 - Cambridge, Mass.  National Bureau of Economic Research  1984. 
 - 1 online resource:  illustrations (black and white); 
 - NBER working paper series  no. w1255 .
 - Working Paper Series (National Bureau of Economic Research)  no. w1255. .
<br/><br/> 1984. 
<br/><br/> This paper develops a framework for analyzing the effects of fiscal policy on the real exchange rate. The short-run impact of various types of fiscal measures are considered as well as the dynamics of adjustment to long-run steady states. The analysis and related simulations suggest that the effect of fiscal policy changes on the real exchange rate can vary widely and will depend closely on a number of structural features, including the degree of asset substitutability,the composition of government spending, and the initial size of the public debt and net external position. 
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