| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2845 |
| DP2845 Is Wage Compression a Necessary Condition for Firm-Financed General Training? | |
| Alison Booth; Gylfi Zoega | |
| 发表日期 | 2001-06-11 |
| 出版年 | 2001 |
| 语种 | 英语 |
| 摘要 | A positive and normative evaluation of alternative monetary policy regimes is addressed in a two-country general equilibrium model. The behaviour of the exchange rate, as well as of the other macroeconomic variables, depends crucially on the monetary regime chosen, though not necessarily on monetary shocks. The centralized welfare criterion presents a trade-off between stabilizing the economy around the flexible-price allocation and reducing the volatility of the nominal interest rates. In this framework, some form of control of the exchange rate is welfare improving. |
| 主题 | International Macroeconomics |
| 关键词 | Monetary policy rules Exchange rate regimes Welfare criterion |
| URL | https://cepr.org/publications/dp2845 |
| 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/531888 |
| 推荐引用方式 GB/T 7714 | Alison Booth,Gylfi Zoega. DP2845 Is Wage Compression a Necessary Condition for Firm-Financed General Training?. 2001. |
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