假设一个对国际资本流动开放的经济实行爬行钉住汇率制,货币每年贬值10%,那么国内名义利率和外国名义利率的关系如何?如果爬行钉住汇率不是完全可信的,会发生什么情况?
Suppose an economy open to international capital movements has a crawling peg exchange rate under which its currency is continuously devalued at a rate of 10 percent per year.How would the domestic nominal interest rate be related to the foreign nominal interest rate? What if the crawling peg is not fully credible?