| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1998 |
| DP1998 Inflation Targeting as a Monetary Policy Rule | |
| Lars E.O. Svensson | |
| 发表日期 | 1998-10-31 |
| 出版年 | 1998 |
| 语种 | 英语 |
| 摘要 | We characterize optimal trade and industrial policy in dynamic oligopolistic markets. If governments can commit to future policies, optimal first-period intervention should diverge from the profit-shifting benchmark to an extent which exactly offsets the strategic behaviour implied by Fudenberg and Tirole's 'fat cats and top dogs' taxonomy of business strategies. Without government commitment, there is an additional basis for intervention, whose sign depends on the strategic substitutability between future policy and current actions. We consider a variety of applications (to R&D spillovers, consumer switching costs, etc.) and extensions to second-best, revenue-constrained and entry-promotion policies. |
| 主题 | International Trade and Regional Economics |
| 关键词 | Commitment Dynamic consistency Export subsidies Learning by doing R&d subsidies Strategic trade policy |
| URL | https://cepr.org/publications/dp1998 |
| 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/531127 |
| 推荐引用方式 GB/T 7714 | Lars E.O. Svensson. DP1998 Inflation Targeting as a Monetary Policy Rule. 1998. |
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