| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w1824 |
| 来源ID | Working Paper 1824 |
| Monetary Policies in Interdependent Economies with Stochastic Disturbances: A Strategic Approach | |
| Stephen J. Turnovsky; Vasco d'; Orey | |
| 发表日期 | 1986 |
| 出版年 | 1986 |
| 语种 | 英语 |
| 摘要 | This paper analyzes strategic monetary policies using a standard two country stochastic macro model. Three noncooperative equilibria, namely Cournot, Stackelberg, and Consistent Conjectural Variations, are considered.The Pareto Optimal equilibrium, where aggregate joint costs are minimizedis also considered, and all strategic equilibria are compared to the perfectly fixed and flexible exchange rate regimes. The main conclusions obtained are:(i) Demand shocks are much less problematical than supply disturbances from the viewpoint of macro stabilization; (ii) the gains from cooperation are typically small; (iii) the strategic equilibria all show substantial margins of superiority over the fixed and flexible regimes. |
| 主题 | International Economics |
| URL | https://www.nber.org/papers/w1824 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/559070 |
| 推荐引用方式 GB/T 7714 | Stephen J. Turnovsky,Vasco d',Orey. Monetary Policies in Interdependent Economies with Stochastic Disturbances: A Strategic Approach. 1986. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w1824.pdf（406KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
