G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w0842
来源IDWorking Paper 0842
International Risk Sharing and the Choice of Exchange-Rate Regime
David A. Hsieh
发表日期1982
出版年1982
语种英语
摘要This paper examines the argument that the fixed exchange rate regime should be preferred to the flexible rate regime because the former allows risk sharing across countries while the latter does not. The analysis is performed in a two-country overlapping generations model, where markets are incomplete under either exchange regime. In this second best world, it is demonstrated that the ability to share risk across countries in the fixed rate regime does not necessarily lead to higher welfare than the inability to share risk in the flexible rate regime.
主题International Economics
URLhttps://www.nber.org/papers/w0842
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/558054
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GB/T 7714
David A. Hsieh. International Risk Sharing and the Choice of Exchange-Rate Regime. 1982.
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