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분야
pptxHistory of Fixed Exchange Rate
Advantages & Disadvantages
of adopting FER
2. IS-LM-BP Model
3. Exchange rate War(Application)
The intersection of the IS-LM curves establishes internal
equilibrium.
The BP curve establishes external equilibrium.
If joint internal and external equilibrium does not exist,
then either:
• The currency must appreciate or depreciate, or
• The central bank must intervene to stabilize the currency
• Downvaluation
-> Exchange rate increase
• IS curve will shift right.
• Buys excess foreign currency.
and Sells domestic currency.
• LM curve will shift right.
• As a result, Y increases.
