| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP216 |
| DP216 The EMS, The Dollar and the Yen | |
| Rudiger Dornbusch | |
| 发表日期 | 1987-12-01 |
| 出版年 | 1987 |
| 语种 | 英语 |
| 摘要 | The paper investigates four challenges to exchange rate stability in the coming years and explores their implications for macroeconomic and exchange rate policy. The first section explores the importance of seigniorage in financing the government budget in Southern European countries. The second issue concerns real interest rates. The third obstacle to exchange rate stability is the continuing, sizeable overvaluation of the dollar. The paper also discusses excess capital mobility and the rationality of exchange markets, and endorses the Tobin proposal for market segmentation. |
| 主题 | International Macroeconomics |
| 关键词 | Dual exchange rate system European monetary system Exchange rates Fiscal policy Seigniorage |
| URL | https://cepr.org/publications/dp216 |
| 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/529372 |
| 推荐引用方式 GB/T 7714 | Rudiger Dornbusch. DP216 The EMS, The Dollar and the Yen. 1987. |
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