| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP247 |
| DP247 Wealth Targets, Exchange Rate Targets and Macroeconomic Policy | |
| David Vines; Martin Weale; Andrew P Blake | |
| 发表日期 | 1988-05-01 |
| 出版年 | 1988 |
| 语种 | 英语 |
| 摘要 | This paper argues that a wealth target is an important feature of an economic policy package. A real exchange rate target can be used as an intermediate target to steer national wealth towards its desired value. Such a policy requires that fiscal policy be used to restrain inflation. This may be difficult if there is real wage resistance. In this instance, fiscal policy must be used to maintain national wealth, with monetary policy being used to restrain inflation. In this case also, monetary policy can be implemented by means of an exchange rate target. These arguments are demonstrated algebraically and then illustrated using policy rules designed for use on a model of the United Kingdom economy. |
| 主题 | International Macroeconomics |
| 关键词 | Exchange rates Fiscal policy Macroeconomic policy National wealth Wage indexation |
| URL | https://cepr.org/publications/dp247 |
| 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/529401 |
| 推荐引用方式 GB/T 7714 | David Vines,Martin Weale,Andrew P Blake. DP247 Wealth Targets, Exchange Rate Targets and Macroeconomic Policy. 1988. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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