G2TT
来源类型Discussion paper
规范类型论文
来源IDDP247
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
URLhttps://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.
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