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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP2969 |
DP2969 Liquidity Traps with Global Taylor Rules | |
Martín Uribe; Stephanie Schmitt-Grohé | |
发表日期 | 2001-09-26 |
出版年 | 2001 |
语种 | 英语 |
摘要 | This Paper studies the role played by distribution costs in shaping the behaviour of the real exchange rate during exchange-rate-based stabilizations. We document that distribution costs are very large for the average consumer good: the represent more than 40% of the retail price in the US and 60% of the retail price in Argentina. Distribution services require local labour and so so they drive a natural wedge between retail prices in different countries. We show that introducing a distribution sector in an otherwise standard model of exchange-rate-based stabilizations dramatically improves its ability to rationalise observed real exchange rate dynamics. |
主题 | International Macroeconomics |
关键词 | Real exchange rate Distribution inflation Stabilization Fixed exchange rates |
URL | https://cepr.org/publications/dp2969 |
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/532000 |
推荐引用方式 GB/T 7714 | Martín Uribe,Stephanie Schmitt-Grohé. DP2969 Liquidity Traps with Global Taylor Rules. 2001. |
条目包含的文件 | 条目无相关文件。 |
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