| 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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