| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1353 |
| DP1353 Labour Contracts, Operating Leverage and Asset Pricing | |
| Jean-Pierre Danthine; John B Donaldson | |
| 发表日期 | 1996-02-29 |
| 出版年 | 1996 |
| 语种 | 英语 |
| 摘要 | Imperfect capital mobility is modelled in a two-country intertemporal general equilibrium framework by assuming that agents face costs of adjusting asset stocks in foreign asset markets. Goods markets are imperfectly competitive and goods prices are subject to sluggish adjustment. Simulation experiments show that increasing financial market integration (represented by reducing the cost of transacting in foreign asset markets) increases the volatility of a number of variables when shocks originate from the money market, but decreases the volatility of most variables when shocks originate from real demand or supply. |
| 主题 | International Macroeconomics |
| 关键词 | Capital mobility Exchange rates Financial market integration |
| URL | https://cepr.org/publications/dp1353 |
| 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/530493 |
| 推荐引用方式 GB/T 7714 | Jean-Pierre Danthine,John B Donaldson. DP1353 Labour Contracts, Operating Leverage and Asset Pricing. 1996. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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