@techreport{NBERw5197,
 title = "Real Effects of Exchange Rate-Based Stabilization: An Analysis of Competing Theories",
 author = "Sergio Rebelo and Carlos A. Vegh",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "5197",
 year = "1995",
 month = "July",
 URL = "http://www.nber.org/papers/w5197",
 abstract = {This paper uses a unified analytical framework to assess, both qualitatively and quantitatively, the relevance of the different hypotheses that have been proposed to explain the real effects of exchange rate-based stabilizations.  The four major hypotheses analyzed are: (i) the supply-side effects associated with an inflation decline; (ii) the perception that the exchange rate peg is temporary; (iii) the fiscal adjustments that tend to accompany the peg; and (iv) the existence of nominal rigidities in wages or prices.},
}