{"id":"https://openalex.org/W4301043248","doi":"https://doi.org/10.21034/dp.121","title":"The Syndrome of Exchange-Rate-Based Stabilizations and the Uncertain Duration of Currency Pegs","display_name":"The Syndrome of Exchange-Rate-Based Stabilizations and the Uncertain Duration of Currency Pegs","publication_year":1997,"publication_date":"1997-08-01","ids":{"openalex":"https://openalex.org/W4301043248","doi":"https://doi.org/10.21034/dp.121"},"language":"en","primary_location":{"id":"doi:10.21034/dp.121","doi":"https://doi.org/10.21034/dp.121","is_oa":true,"landing_page_url":"https://doi.org/10.21034/dp.121","pdf_url":"http://researchdatabase.minneapolisfed.org/downloads/41687h50f","source":null,"license":"cc-by-nc","license_id":"https://openalex.org/licenses/cc-by-nc","version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},"volume":null,"type":"preprint","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"http://researchdatabase.minneapolisfed.org/downloads/41687h50f","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5109922213","display_name":"Enrique G. Mendoza","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Enrique G. Mendoza","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5110197205","display_name":"Mart\u0131\u0301n Uribe","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Martin Uribe","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":21,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.6304000020027161,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.6304000020027161,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.35280001163482666,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11742","display_name":"Economic Theory and Policy","score":0.006800000090152025,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/currency-peg","display_name":"currency peg","score":0.9639999866485596},{"id":"https://openalex.org/keywords/currency-devaluation","display_name":"currency devaluation","score":0.6110000014305115},{"id":"https://openalex.org/keywords/incomplete-markets","display_name":"incomplete markets","score":0.9789999723434448},{"id":"https://openalex.org/keywords/wealth-effects","display_name":"wealth effects","score":0.9020000100135803},{"id":"https://openalex.org/keywords/supply-side-effects","display_name":"supply-side effects","score":0.9639999866485596},{"id":"https://openalex.org/keywords/welfare-costs","display_name":"welfare costs","score":0.9409999847412109},{"id":"https://openalex.org/keywords/inflation","display_name":"inflation","score":0.7450000047683716},{"id":"https://openalex.org/keywords/mexico","display_name":"Mexico","score":0.41499999165534973}],"concepts":[{"id":"https://openalex.org/C112758219","wikidata":"https://www.wikidata.org/wiki/Q16038819","display_name":"Duration (music)","level":2,"score":0.8350439667701721},{"id":"https://openalex.org/C38935604","wikidata":"https://www.wikidata.org/wiki/Q4330363","display_name":"Stylized fact","level":2,"score":0.823835015296936},{"id":"https://openalex.org/C70455891","wikidata":"https://www.wikidata.org/wiki/Q220788","display_name":"Devaluation","level":3,"score":0.8096550107002258},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.7765545845031738},{"id":"https://openalex.org/C200941418","wikidata":"https://www.wikidata.org/wiki/Q273508","display_name":"Inflation (cosmology)","level":2,"score":0.6813676357269287},{"id":"https://openalex.org/C2776988154","wikidata":"https://www.wikidata.org/wiki/Q66100","display_name":"Exchange rate","level":2,"score":0.6623557806015015},{"id":"https://openalex.org/C141121606","wikidata":"https://www.wikidata.org/wiki/Q8142","display_name":"Currency","level":2,"score":0.5588995814323425},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.5435140132904053},{"id":"https://openalex.org/C100243477","wikidata":"https://www.wikidata.org/wiki/Q12002092","display_name":"Welfare","level":2,"score":0.5428078770637512},{"id":"https://openalex.org/C27548731","wikidata":"https://www.wikidata.org/wiki/Q88272","display_name":"Investment (military)","level":3,"score":0.4645172655582428},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.24208348989486694},{"id":"https://openalex.org/C34447519","wikidata":"https://www.wikidata.org/wiki/Q179522","display_name":"Market economy","level":1,"score":0.0797891616821289},{"id":"https://openalex.org/C142362112","wikidata":"https://www.wikidata.org/wiki/Q735","display_name":"Art","level":0,"score":0.0},{"id":"https://openalex.org/C33332235","wikidata":"https://www.wikidata.org/wiki/Q18362","display_name":"Theoretical physics","level":1,"score":0.0},{"id":"https://openalex.org/C124952713","wikidata":"https://www.wikidata.org/wiki/Q8242","display_name":"Literature","level":1,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C94625758","wikidata":"https://www.wikidata.org/wiki/Q7163","display_name":"Politics","level":2,"score":0.0},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0}],"mesh":[],"locations_count":5,"locations":[{"id":"doi:10.21034/dp.121","doi":"https://doi.org/10.21034/dp.121","is_oa":true,"landing_page_url":"https://doi.org/10.21034/dp.121","pdf_url":"http://researchdatabase.minneapolisfed.org/downloads/41687h50f","source":null,"license":"cc-by-nc","license_id":"https://openalex.org/licenses/cc-by-nc","version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},{"id":"doi:10.2139/ssrn.114730","doi":"https://doi.org/10.2139/ssrn.114730","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.114730","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},{"id":"pmh:oai:RePEc:duk:dukeec:97-30","doi":null,"is_oa":false,"landing_page_url":"http://www.econ.duke.edu/Papers/Abstracts97/abstract.97.30.html","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"pmh:oai:RePEc:fip:fedgif:548","doi":null,"is_oa":false,"landing_page_url":"http://www.federalreserve.gov/pubs/ifdp/1996/548/default.htm","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"pmh:oai:RePEc:fip:fedmem:121","doi":null,"is_oa":false,"landing_page_url":"http://minneapolisfed.org/research/common/pub_detail.cfm?pb_autonum_id=736","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"}],"best_oa_location":{"id":"doi:10.21034/dp.121","doi":"https://doi.org/10.21034/dp.121","is_oa":true,"landing_page_url":"https://doi.org/10.21034/dp.121","pdf_url":"http://researchdatabase.minneapolisfed.org/downloads/41687h50f","source":null,"license":"cc-by-nc","license_id":"https://openalex.org/licenses/cc-by-nc","version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},"sustainable_development_goals":[{"score":0.48510000109672546,"display_name":"Decent work and economic growth","id":"https://metadata.un.org/sdg/8"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4301043248.pdf"},"referenced_works_count":20,"referenced_works":["https://openalex.org/W1518987165","https://openalex.org/W1532770486","https://openalex.org/W1556979268","https://openalex.org/W1581641346","https://openalex.org/W1846813193","https://openalex.org/W1976173875","https://openalex.org/W1977713784","https://openalex.org/W1981351961","https://openalex.org/W2001037162","https://openalex.org/W2028113727","https://openalex.org/W2035835533","https://openalex.org/W2042600400","https://openalex.org/W2055380308","https://openalex.org/W2242944225","https://openalex.org/W3023311650","https://openalex.org/W3025301132","https://openalex.org/W3093732670","https://openalex.org/W3101046020","https://openalex.org/W3121286009","https://openalex.org/W3125103099"],"related_works":["https://openalex.org/W7100579308","https://openalex.org/W3124259425","https://openalex.org/W7098086109","https://openalex.org/W1600044454","https://openalex.org/W7095769496","https://openalex.org/W3159140044","https://openalex.org/W2786685434","https://openalex.org/W7098926650","https://openalex.org/W1510649883","https://openalex.org/W3121246711"],"abstract_inverted_index":{"This":[0],"paper":[1],"shows":[2],"that":[3,31],"some":[4],"key":[5],"stylized":[6],"facts":[7],"of":[8,19,82,104],"exchange-rate-based":[9],"stabilization":[10],"plans":[11,21,38],"can":[12],"be":[13],"explained":[14],"by":[15],"the":[16,20,37,45,73,102],"uncertain":[17,55,83],"duration":[18,24,56,84],"themselves.":[22],"Uncertain":[23],"is":[25,99],"modeled":[26],"to":[27,93],"reflect":[28],"evidence":[29],"showing":[30],"devaluation":[32],"probabilities":[33],"are":[34,39,52,69,91],"higher":[35],"when":[36],"introduced":[40],"and":[41,67,72],"abandoned":[42],"than":[43],"in":[44,47,101],"period":[46],"between.":[48],"If":[49],"contingent-claims":[50],"markets":[51],"incomplete,":[53],"this":[54],"distortion":[57],"introduces":[58],"temporary":[59],"fiscal":[60],"cuts":[61],"with":[62],"large":[63,86],"wealth":[64],"effects.":[65],"Investment":[66],"employment":[68],"also":[70],"distorted,":[71],"resulting":[74],"supply-side":[75],"effects":[76],"play":[77],"a":[78],"critical":[79],"role.":[80],"Stabilizations":[81],"entail":[85],"welfare":[87],"costs,":[88],"but":[89],"they":[90],"preferred":[92],"persistent":[94],"high":[95],"inflation.":[96],"Mexico's":[97],"experience":[98],"examined":[100],"light":[103],"these":[105],"predictions.":[106]},"counts_by_year":[{"year":2024,"cited_by_count":1},{"year":2017,"cited_by_count":1},{"year":2013,"cited_by_count":1},{"year":2012,"cited_by_count":1}],"updated_date":"2026-11-03T10:50:19.383937","created_date":"2022-10-04T00:00:00"}
