| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP711 |
| DP711 Macroeconomic Shocks, the ERM, and Tri-Polarity | |
| Mark Taylor; Tamim Bayoumi | |
| 发表日期 | 1992-09-15 |
| 出版年 | 1992 |
| 语种 | 英语 |
| 摘要 | We analyse the importance of ERM membership for macroeconomic performance by comparing the behaviour of real output growth and inflation of members and non-members of the ERM. Taking the traditional aggregate supply and demand model as the basis for the analysis, we propose and implement an econometric procedure for identifying aggregate demand and supply shocks. The results confirm that the ERM has acted as a vehicle for macroeconomic policy coordination among its members. We also investigate several issues relating to the notion of a `tri-polar' global economic system comprising Germany, Japan and the US. |
| 主题 | International Macroeconomics |
| 关键词 | Erm Macroeconomic performance Tri-polarity |
| URL | https://cepr.org/publications/dp711 |
| 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/529868 |
| 推荐引用方式 GB/T 7714 | Mark Taylor,Tamim Bayoumi. DP711 Macroeconomic Shocks, the ERM, and Tri-Polarity. 1992. |
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