| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP123 |
| DP123 Monetary Policy Interactions under Managed Exchange Rates | |
| Francesco Giavazzi; Alberto Giovannini | |
| 发表日期 | 1986-08-01 |
| 出版年 | 1986 |
| 语种 | 英语 |
| 摘要 | This paper studies monetary policy games in a two-period Mundell-Fleming model, under a regime of managed exchange rates. A regime of managed exchange rates is defined as one where exchange rates are pegged but bilateral parities can be changed from time to time. The paper argues that such a regime is the most appropriate description of the Bretton Woods system and many arrangements currently in existence. We show that Cournot-Nash equilibria under managed rates differ significantly from those under fixed or floating rates. Under managed rates the world-wide efficiency losses from lack of coordination are not equally shared by all countries. |
| 主题 | International Macroeconomics |
| 关键词 | Exchange rates monetary policy Mundell-fleming model |
| URL | https://cepr.org/publications/dp123 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529279 |
| 推荐引用方式 GB/T 7714 | Francesco Giavazzi,Alberto Giovannini. DP123 Monetary Policy Interactions under Managed Exchange Rates. 1986. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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