| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1489 |
| DP1489 Phases of Imitation and Innovation in a North-South Endogenous Growth Model | |
| Jane Rapson; Paul Levine; Joseph Pearlman; Michael Chui | |
| 发表日期 | 1996-10-31 |
| 出版年 | 1996 |
| 语种 | 英语 |
| 摘要 | Most interpretations of the Exchange Rate Mechanism crisis of 1992/3 ignore the key role played by structural policy spillovers among European countries, and overlook the effects of coordination (or lack thereof) of monetary and exchange rate policies among the countries making up the periphery of the system. This paper provides a simple analytical framework, able to encompass the recent literature on currency crises, while developing it by bringing out the decisive role of the strategic interactions among national policy-makers in a multi-country monetary and exchange rate game. In contrast to an approach that focuses exclusively on country-specific issues, a systemic view is ultimately able to unravel more coherently, and more convincingly, the ?puzzles? of the ERM crisis. |
| 主题 | International Macroeconomics |
| 关键词 | Erm Monetary policy coordination Systemic crises |
| URL | https://cepr.org/publications/dp1489 |
| 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/530632 |
| 推荐引用方式 GB/T 7714 | Jane Rapson,Paul Levine,Joseph Pearlman,et al. DP1489 Phases of Imitation and Innovation in a North-South Endogenous Growth Model. 1996. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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