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|Title:||Problems of indexation in financially liberalized less developed economies||Authors:||Kapur, B.K.||Issue Date:||Mar-1982||Citation:||Kapur, B.K. (1982-03). Problems of indexation in financially liberalized less developed economies. World Development 10 (3) : 199-209. ScholarBank@NUS Repository.||Abstract:||This paper constructs a short-run, dynamic model of a newly-liberalized less developed economy, and uses it to examine the policy options with respect to the indexation of key macro-economic variables. It concludes that 'full indexation' of the exchange rate, wage rate, and deposit rate of interest is likely to prove dynamically beneficial to the economy, provided that at the same time the monetary base is manipulated so as to maintain steady-state price stability. © 1982.||Source Title:||World Development||URI:||http://scholarbank.nus.edu.sg/handle/10635/133182||ISSN:||0305750X|
|Appears in Collections:||Staff Publications|
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