| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP177 |
| DP177 Sterling Misalignment and British Trade Performance | |
| Charles Bean | |
| 发表日期 | 1987-05-01 |
| 出版年 | 1987 |
| 语种 | 英语 |
| 摘要 | In the first part of this paper I use a small macroeconomic model to examine the causes of the appreciation of sterling during 1979-81. Oil takes about half of the blame. Contractionary monetary policies alone do not seem sufficient to explain the rest, but when coupled with adverse supply-side developments they seem capable of explaining both the appreciation and the associated increase in unemployment. In the second part of the paper I examine the possibility that temporary fluctuations in the real exchange rate may have a permanent effect on British export performance. Using data from 1900 to the present I find evidence that is consistent with "hysteresis" effects on both the demand and supply side of the export market. |
| 主题 | International Macroeconomics ; International Trade and Regional Economics |
| 关键词 | Exchange rates Exports Hysteresis monetary policy Oil exports United kingdom |
| URL | https://cepr.org/publications/dp177 |
| 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/529336 |
| 推荐引用方式 GB/T 7714 | Charles Bean. DP177 Sterling Misalignment and British Trade Performance. 1987. |
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