全球智库信息集成服务系统(G2TT): DP2107 Estimating the Effects of Tax Reform in Differentiated Product Oligopolistic Markets

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP2107
	DP2107 Estimating the Effects of Tax Reform in Differentiated Product Oligopolistic Markets
	Chaim Fershtman; Neil Gandal; Sarit Markovich
发表日期	1999-03-29
出版年	1999
语种	英语
摘要	The size and economic relevance of Europe may imply a new role for the EURO in the international financial markets. But will the EURO compete with the $US and the Yen for a place in the basket of international currencies? Will that induce a bipolar or indeed tri-polar system, and with what consequences? Two important uncertainties arise from the fact that the long run trend of the EURO depends on the economic performance of the partner countries as well as on the properties of the new currency. They are: a) the international use of the EURO in trade, as well as its effect on the stability of the foreign exchange markets more generally, and b) the implementation of monetary and fiscal policies: how the new European policy mix will affect the degree of international policy co-ordination and exchange rate management. Much of this uncertainty is due to the fact that some of the effects will work in opposite directions and many will be felt gradually (primarily those that are dependent on private sector expectations), while others will become obvious as soon as the EURO is introduced. In this paper we discuss some of the reasons why the EURO might be strong or weak but more importantly why it may be volatile at least in the initial stages. Finally, we calculate the "synthetic" EURO and show how one EURO is not one ECU, an additional reason why it may prove volatile.
主题	International Macroeconomics
关键词	Currency markets Emu Euro Exchange rates
URL	https://cepr.org/publications/dp2107
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/531221
推荐引用方式 GB/T 7714	Chaim Fershtman,Neil Gandal,Sarit Markovich. DP2107 Estimating the Effects of Tax Reform in Differentiated Product Oligopolistic Markets. 1999.