全球智库信息集成服务系统(G2TT): DP2820 Unrestricted Market Access for Sub-Saharan Africa: How Much is it Worth and Who Pays?

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP2820
	DP2820 Unrestricted Market Access for Sub-Saharan Africa: How Much is it Worth and Who Pays?
	Aaditya Mattoo; Marcelo Olarreaga; Elena Ianchovichina
发表日期	2001-04-06
出版年	2001
语种	英语
摘要	A small open economy model is presented, which allows explicit treatment of uncertainty and its effects on macroeconomic behaviour. Inflation targeting is compared to the welfare maximizing monetary rule and to a fixed nominal exchange rate. It is found that flexible inflation targeting produces too little exchange rate volatility compared to the optimal rule but delivers higher welfare than a fixed nominal exchange rate. Strict inflation targeting also delivers higher welfare than a fixed rate. In addition it is found that the welfare-maximizing monetary rule can be replicated if the central bank?s objective function includes the nominal exchange rate.
主题	International Macroeconomics
关键词	monetary policy Inflation targeting Open economy
URL	https://cepr.org/publications/dp2820
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/531813
推荐引用方式 GB/T 7714	Aaditya Mattoo,Marcelo Olarreaga,Elena Ianchovichina. DP2820 Unrestricted Market Access for Sub-Saharan Africa: How Much is it Worth and Who Pays?. 2001.