| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP195 |
| DP195 Exchange Rate Protection and Exchange Rate Conflict | |
| Vijay Joshi; Christopher Bliss | |
| 发表日期 | 1987-09-01 |
| 出版年 | 1987 |
| 语种 | 英语 |
| 摘要 | The paper investigates a model of "exchange rate protection" by two countries. Either or both countries may protect their tradable sectors by maintaining undervalued exchange rates. The mechanism of protection considered involves a country increasing its national saving rate and exporting capital. The resulting depreciation of the real exchange rate boosts the tradable sector. The world equilibrium that will result if both countries pursue this policy is shown to be inefficient. In a more general case countries may wish to adopt "negative exchange rate protection". The simple model may throw light on the experiences of Germany and Japan during periods when their exchange rates have apparently been undervalued and the more general model may be relevant to the United States which until recently has had an overvalued exchange rate. |
| 主题 | International Macroeconomics ; International Trade and Regional Economics |
| 关键词 | Exchange rates Germany Japan Policy coordination Protection Saving rate |
| URL | https://cepr.org/publications/dp195 |
| 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/529351 |
| 推荐引用方式 GB/T 7714 | Vijay Joshi,Christopher Bliss. DP195 Exchange Rate Protection and Exchange Rate Conflict. 1987. |
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