| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5569 |
| DP5569 The Relative Importance of Global Agricultural Subsidies and Market Access | |
| Kym Anderson; Will Martin; Ernesto Valenzuela | |
| 发表日期 | 2006-03-22 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | We analyse the stability of countries within a monetary union in the face of asymmetric shocks, using a simple but widely applicable model. We show that members of the union may be subject to severe, and possibly unstable, cycles following asymmetric shocks if there is a significant backward looking element in inflation behaviour, and if real interest rates influence the level of aggregate demand. This cyclical instability can be mitigated if fiscal policy in each member country reacts to inflation differences, but it can be aggravated if fiscal feedback on debt is too strong. |
| 主题 | International Macroeconomics |
| 关键词 | Monetary and fiscal policies Monetary union Macroeconomic stability |
| URL | https://cepr.org/publications/dp5569 |
| 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/534424 |
| 推荐引用方式 GB/T 7714 | Kym Anderson,Will Martin,Ernesto Valenzuela. DP5569 The Relative Importance of Global Agricultural Subsidies and Market Access. 2006. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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