| 来源类型 | Discussion paper
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| 规范类型 | 论文
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| 来源ID | DP152
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| DP152 The Price, Output and Exchange Rate-Overshooting Effects of Monetary, Fiscal and Exchange Intervention Policy in a Two-Country Disequilibrium Model |
| Neil Rankin
|
| 发表日期 | 1987
|
| 出版年 | 1987
|
| 语种 | 英语
|
| 摘要 | Monetary, fiscal and exchange intervention policy are examined in a symmetric, two-country, two-period model. Money wages are rigid in period one, causing unemployment. In each period there is a single world output, traded in a perfectly competitive world market. The exchange rate is flexible, and there is perfect capital mobility with perfect foresight. Aoki's method is used to obtain comparative static results, which include as special cases small open and closed economies. Whereas monetary policy effects in this model are consistent with the Mundell-Fleming-Dornbusch framework, fiscal policy always causes higher domestic output and a nominal depreciation, and may well lower foreign output. |
| 主题 | International Macroeconomics
|
| 关键词 | Disequilibrium models
Exchange rates overshooting monetary policy
Fiscal policy
Wage rigidity
|
| URL | https://cepr.org/publications/dp152
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529308
|
推荐引用方式
GB/T 7714 |
Neil Rankin. DP152 The Price, Output and Exchange Rate-Overshooting Effects of Monetary, Fiscal and Exchange Intervention Policy in a Two-Country Disequilibrium Model. 1987.
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