Przykłady devaluation

• This too was in marked contrast to the conduct of planning before the devaluation.

• There had been fears earlier in the year of a franc devaluation and of its likely sideeffects on sterling.

• Optimistic (pessimistic) expectations involve a second-period equilibrium characterized by a low (high) probability of devaluation, which in turn validates the expectations.

• With net foreign currency liabilities, devaluations erode net worth.

• This addition would, however, make steady states (in the ensuing analyses) sensitive to permanent changes in the rate of devaluation or expansion of money supply.

• The problem of managing sterling was actually greater in the period after devaluation than it had ever been before.

• His conclusion was that devaluation was the solution, which went very much against the politics of the time - previous governments had tried to prevent devaluation.

• This, in turn, caused the devaluation of the peso in the black market, aggravating inequities between those with access to dollars and those without.

• The alternative of each country establishing its own regulation could give rise to problems akin to competitive devaluations.

• However, the devaluation greatly stimulated timber exports, which led to greater forest degradation.

• A switch to an outward-oriented strategy, based upon the export of labor-intensive manufactured goods, would have required devaluations so extreme as to be politically impossible.

• The orthodox gold supporters attained a resumption of convertibility, but the voices for employment and against deflation attained a significant devaluation from the pre-war parity.

• It hesitated to reduce interest rates after devaluation for fear of fuelling in-ation.

• As inflation accelerated towards the end of 1947, however, persistent devaluation came to be blamed for contributing to adverse expectations and price instability.

• The fiscal deficit kept interest rates high, inducing capital inflows that nearly offset the initial devaluation.