| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1216 |
| DP1216 Multi-object Auctions: On the Use of Combinational Bids | |
| Fernando Branco | |
| 发表日期 | 1995-08-31 |
| 出版年 | 1995 |
| 语种 | 英语 |
| 摘要 | A dynamic stochastic model of a small open monetary economy with infinitely-lived optimizing households is constructed. There are temporary nominal rigidities in the labour market, while in goods and asset markets prices are flexible. Optimizing behaviour in the foreign country is also modelled. The home country is small relative to the foreign country, so the latter is effectively a closed economy. We show that whereas in the closed economy an anticipated increase in monetary variability has no effect on current macroeconomic variables, in the small open economy it weakens the current exchange rate and expands current output. |
| 主题 | International Macroeconomics |
| 关键词 | exchange rate Monetary uncertainty Nominal rigidity risk premium |
| URL | https://cepr.org/publications/dp1216 |
| 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/530361 |
| 推荐引用方式 GB/T 7714 | Fernando Branco. DP1216 Multi-object Auctions: On the Use of Combinational Bids. 1995. |
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