| 来源类型 | Working Paper
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| 规范类型 | 报告
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| DOI | 10.3386/w1858
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| 来源ID | Working Paper 1858
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| U.S. Monetary Policy Regimes and U.S.-Japan Financial Relations |
| V. Vance Roley
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| 发表日期 | 1986-03-01
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| 出版年 | 1986
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| 语种 | 英语
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| 摘要 | This paper examines the pervasiveness of the effects of U.S. monetary policy regime shifts and unanticipated changes in money on international financial markets. Four potential regimes from October 1977 to May 1985 are examined in terms of the response of yen-denominated securities in the Tokyo market to U.S. money surprises. The rationality of the responses in domestic and foreign on shore financial markets is further examined by testing whether the responses of dollar-denominated securities, yen-dominated securities, the spot yen/dollar exchange rate,and the forward yen/dollar exchange rate violate covered interest parity.The use of yen-denominated assets and the yen/dollar exchange rate allows further tests of the effects of the liberalization of restrictions on capital mobility in Japan since the late 1970s on market efficiency. |
| 主题 | International Economics
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| URL | https://www.nber.org/papers/w1858
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| 来源智库 | National Bureau of Economic Research (United States)
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| 引用统计 |
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/559105
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推荐引用方式
GB/T 7714 |
V. Vance Roley. U.S. Monetary Policy Regimes and U.S.-Japan Financial Relations. 1986.
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文件名：
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w1858.pdf
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格式：
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Adobe PDF
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