全球智库信息集成服务系统(G2TT): DP12696 Global Financial Cycles and the Exchange Rate Regime: A Perspective from Emerging Markets

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来源类型	Discussion paper
规范类型	论文
来源ID	DP12696
	DP12696 Global Financial Cycles and the Exchange Rate Regime: A Perspective from Emerging Markets
	Maurice Obstfeld; Jonathan D. Ostry; Mahvash S. Qureshi
发表日期	2018-02-07
出版年	2018
语种	英语
摘要	This paper examines the relevance of exchange rate regimes in the transmission of global financial shocks to domestic financial and macroeconomic conditions. Our findings suggest that even in today’s highly financially integrated world, the nominal exchange rate regime does matter—at least for emerging market economies. The transmission of global financial shocks to domestic variables is magnified under fixed exchange rate regimes relative to more flexible regimes. For advanced economies, however, the jury is still out, as the recent paucity of truly fixed regimes among these economies poses a challenge for estimating the effect of exchange rate flexibility.
主题	Financial Economics ; International Macroeconomics and Finance
关键词	Trilemma Global financial cycle Emerging market economies
URL	https://cepr.org/publications/dp12696
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/541508
推荐引用方式 GB/T 7714	Maurice Obstfeld,Jonathan D. Ostry,Mahvash S. Qureshi. DP12696 Global Financial Cycles and the Exchange Rate Regime: A Perspective from Emerging Markets. 2018.