Two-Tier Exchange Rates and Monetary Autonomy in a Portfolio-Balance Model

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Year: 1979

Publisher Name: Global Science Press

Language: Multiple languages

DOI: https://doi.org/10.3790/schm.99.1-2.45

Published online: 1979-01

AMS Subject Headings: Duncker & Humblot

Pages: 20

Marion, Nancy Peregrim

Section Title	Page	Action	Price
Nancy Peregrim Marion: Two-Tier Exchange Rates and Monetary Autonomy\rin a Portfolio-Balance Model	45
Description of the Model	46
Private Wealth and Demands for Financial Assets	47
The Banking Sector	49
Saving	50
Domestic holdings of foreign bonds	51
Solution of Model I	52
Solution of Model II	55
Perfect Substitutability Between Domestic and Foreign Bonds	56
Model I with Perfect Substitutability	57
Model II with Perfect Substitutability	60
Appendix I Two-Tier Exchange Market — Model I Impact Effects	61
Appendix II Two-Tier Exchange Market — Model II	62
Appendix III Unitary Flexible Exchange Rate	62
Appendix IV Unitary Fixed Exchange Rate	63
References	64

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