| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP172 |
| DP172 A Two-Country Model with Asymmetric Phillips Curves and Intervention in the Foreign Exchange Market | |
| Michael Artis; Saziye Gazioglu | |
| 发表日期 | 1987-04-01 |
| 出版年 | 1987 |
| 语种 | 英语 |
| 摘要 | In this paper simulation methods are employed on a two-country, rational expectations continuous-time model to explore the consequences of asymmetrical wage-price processes. As an additional feature the effects are explored of reductions in the degree of financial integration between the two countries. The set up is designed to mimic the asymmetry within the European Monetary System between the wage-price process in Germany and that in the other member countries. The results demonstrate that country differentiation in respect of the wage-price process has important leverage on the response to a variety of shocks and that reduced financial integration (mimicking foreign exchange controls) is an uncertain offset. |
| 主题 | International Macroeconomics |
| 关键词 | European monetary system Exchange rates Financial integration Foreign exchange controls Phillips curve Prices Wages |
| URL | https://cepr.org/publications/dp172 |
| 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/529328 |
| 推荐引用方式 GB/T 7714 | Michael Artis,Saziye Gazioglu. DP172 A Two-Country Model with Asymmetric Phillips Curves and Intervention in the Foreign Exchange Market. 1987. |
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