| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7315 |
| DP7315 A Dynamic Model of Price Discrimination and Inventory Management at the Fulton Fish Market | |
| Kathryn Graddy; George Hall | |
| 发表日期 | 2009-06-23 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | This paper extends the analysis of the forthcoming fall in the dollar by Blanchard, Giavazzi and Sà 2005), using a model which incorporates forward-looking consumers. It provides additional underpinnings for the idea of a rapid adjustment in the value of the dollar. We analyze what will happen to the dollar value when forward-looking consumers, in anticipation of the reduction in the current account deficit, cut their consumption. We show that the real interest rate must fall as a result, and that this causes the exchange rate to fall more initially. However we also show that the interest rate does not fall greatly initially, and so that these effects are not large. But they add to pressures causing a rapid fall in the dollar. |
| 主题 | International Macroeconomics |
| 关键词 | Imperfect substitutability Net foreign assets Valuation effects |
| URL | https://cepr.org/publications/dp7315 |
| 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/536166 |
| 推荐引用方式 GB/T 7714 | Kathryn Graddy,George Hall. DP7315 A Dynamic Model of Price Discrimination and Inventory Management at the Fulton Fish Market. 2009. |
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