| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP266 |
| DP266 The International Monetary System: An Analysis of Alternative Regimes | |
| John Williamson; Marcus Miller | |
| 发表日期 | 1988-07-01 |
| 出版年 | 1988 |
| 语种 | 英语 |
| 摘要 | This is an exercise in the positive economics of alternative monetary regimes. The behaviour of output and prices is compared using a stochastic specification which allows asymptotic variances to be obtained without difficulty. Free floating of exchange rates together with national money supply targets is analysed first, with and without the presence of `fads' in the exchange rate. Two alternatives for monetary coordination are then considered. First, McKinnon's proposal to fix nominal exchange rates and stabilize aggregate monetary growth (or average inflation); second, Williamson's system of Target Zones for stable real exchange rates, complemented by nominal income targets for fiscal policy. |
| 主题 | International Macroeconomics |
| 关键词 | Exchange rates systems International monetary reform International monetary regimes Speculation |
| URL | https://cepr.org/publications/dp266 |
| 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/529412 |
| 推荐引用方式 GB/T 7714 | John Williamson,Marcus Miller. DP266 The International Monetary System: An Analysis of Alternative Regimes. 1988. |
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