| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2348 |
| DP2348 Is Tax Policy Coordination Necessary? | |
| Apostolis Philippopoulos; Tryphon Kollintzas; Vanghelis Vassilatos | |
| 发表日期 | 2000-01-31 |
| 出版年 | 2000 |
| 语种 | 英语 |
| 摘要 | Floating exchange rates display substantial short-run volatility causing a nontrivial information problem in disentangling temporary from permanent changes. Although agents observe current market signals they are imperfectly informed about the future, but they accumulate information and learn over time. We analyze how this basic information problem in the presence of one-period nominal contracts affects the dynamic adjustment process to nominal shocks. Specifically we use a general equilibrium two-country model with specialized production and one-period nominal contracts and consider the propagation of nominal shocks. Informational problems are shown to have important qualitative and potentially strong quantitative importance for the propagation of nominal shocks. |
| 主题 | International Macroeconomics |
| 关键词 | Exchange rates Imperfect information Learning Nominal shocks Persistence Temporary and permanent shocks |
| URL | https://cepr.org/publications/dp2348 |
| 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/531438 |
| 推荐引用方式 GB/T 7714 | Apostolis Philippopoulos,Tryphon Kollintzas,Vanghelis Vassilatos. DP2348 Is Tax Policy Coordination Necessary?. 2000. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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