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Premium the Balance of Payments and Inflation
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adoption Argentina authorities balance of payments black market capital account capital flight capital outflows central bank profits Chhibber crawling peg current account transactions depreciation determinants developing countries dollars domestic currency budget domestic inflation domestic prices dual exchange rate dual system economy Elbadawi episodes equation estimated evidence exchange rate policy exchange rate system February 1994 February Figure fiscal deficit fiscal losses fixed exchange rate foreign assets foreign exchange controls foreign exchange market Ghana imports insulation interest parity differential international reserves large premium Lizondo long run macroeconomic macroeconomic policies maxi-devaluation Mexico mimeo monetary and fiscal Multiple Exchange Rate official exchange rate official rate parallel current account parallel exchange rate parallel foreign exchange parallel premium parallel rate payments crisis payments problems Pierre Richard premia private sector public sector raises the premium real appreciation restrictions result short run stock/flow model Sudan Table Tanzania terms of trade tightening trade taxes Turkey variables Venezuela World Bank Zambia