IS-LM-BP in the Pampas
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 policy has non-standard 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.
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Copy CitationLuis Felipe Cespedes, Roberto Chang, and Andres Velasco, "IS-LM-BP in the Pampas," NBER Working Paper 9337 (2002), https://doi.org/10.3386/w9337.Download Citation
Published Versions
Luis Felipe Céspedes & Roberto Chang & Andrés Velasco, 2003. "IS-LM-BP in the Pampas," IMF Staff Papers, vol 50(S1), pages 143-156.
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