| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w2565 |
| 来源ID | Working Paper 2565 |
| Real Exchange Rate Variability under Pegged and Floating Nominal Exchange Rate Systems: An Equilibrium Theory | |
| Alan C. Stockman | |
| 发表日期 | 1988-04-01 |
| 出版年 | 1988 |
| 语种 | 英语 |
| 摘要 | This paper proposes a new explanation for the greater variability of real exchange rates under pegged than under floating nominal exchange rate systems. The explanation hinges on the propensity of governments to use international trade restrictions and financial restrictions for balance-of-payments purposes under pegged exchange rates. In particular. these restrictions become more likely during periods of time when countries suffer losses of international reserves than might. without policy changes. lead to a balance-of-payments crisis. This covariation of restrictions with reserve changes implies that real exchange rates will vary less under pegged than under floating exchange rates. |
| 主题 | International Economics |
| URL | https://www.nber.org/papers/w2565 |
| 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/559821 |
| 推荐引用方式 GB/T 7714 | Alan C. Stockman. Real Exchange Rate Variability under Pegged and Floating Nominal Exchange Rate Systems: An Equilibrium Theory. 1988. |
| 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 | ||
| w2565.pdf（451KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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