Currency devaluation, aggregate output, and the long run: an empirical study

Authors
Upadhyaya, KP
Citation
Kp. Upadhyaya, Currency devaluation, aggregate output, and the long run: an empirical study, ECON LETT, 64(2), 1999, pp. 197-202
Citations number
14
Categorie Soggetti
Economics
Journal title
ECONOMICS LETTERS
ISSN journal
01651765 → ACNP
Volume
64
Issue
2
Year of publication
1999
Pages
197 - 202
Database
ISI
SICI code
0165-1765(199908)64:2<197:CDAOAT>2.0.ZU;2-1
Abstract
This paper estimates the effect of currency devaluation on the aggregate ou tput level in six Asian countries using a unique methodology developed by W ickens et al. (1988; Economic Journal 189-205). The estimated results sugge st that devaluation, in general, is neutral in the long run. In some cases it even can have a contractionary effect. (C) 1999 Elsevier Science S.A. AU rights reserved.