| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3266 |
| DP3266 Do the 'Three-Point Victory' and 'Golden Goal' Rules Make Soccer More Exciting? A Theoretical Analysis of a Simple Game | |
| Juan Carrillo; Isabelle Brocas | |
| 发表日期 | 2002-03-20 |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | This Paper computes welfare maximizing Taylor-style interest rate rules, in a business cycle model of a small open economy. The model assumes staggered price setting and shocks to domestic productivity, to the world interest rate, to world inflation and to the uncovered interest rate parity condition. Optimized policy rules have a pronounced anti-inflation stance and entail significant nominal and real exchange rate volatility. The country responds to an increase in external volatility by holding more foreign assets. The policy rule affects the variance and the mean of consumption. The effect on the mean matters significantly for welfare. |
| 主题 | International Macroeconomics |
| 关键词 | Open economy Interest rate rules Business cycles |
| URL | https://cepr.org/publications/dp3266 |
| 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/532293 |
| 推荐引用方式 GB/T 7714 | Juan Carrillo,Isabelle Brocas. DP3266 Do the 'Three-Point Victory' and 'Golden Goal' Rules Make Soccer More Exciting? A Theoretical Analysis of a Simple Game. 2002. |
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