| 来源类型 | Working Paper
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| 规范类型 | 报告
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| DOI | 10.3386/w4127
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| 来源ID | Working Paper 4127
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| International Transmission Under Bretton Woods |
| Alan C. Stockman
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| 发表日期 | 1992-07-01
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| 出版年 | 1992
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| 语种 | 英语
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| 摘要 | This paper explores the main channels of international transmission of economic disturbances under the Bretton Woods System and presents evidence on the short-run international transmission of inflation under that system. There appears to have been little short-run international transmission of inflation. Countries with one-percent higher money-growth rates subsequently had one-fourth to one-half percent higher inflation and a (predictably) lower real interest rate. This probably reflects effects of money growth on inflation and interest rates rather than reverse causation: the natural interpretation of the evidence is that countries had some scope for monetary-policy independence under Bretton Woods, despite pegged exchange rates, and exercised that independence in ways that limited international transmission. |
| 主题 | International Economics
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| URL | https://www.nber.org/papers/w4127
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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/561476
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推荐引用方式
GB/T 7714 |
Alan C. Stockman. International Transmission Under Bretton Woods. 1992.
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文件名：
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w4127.pdf
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格式：
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Adobe PDF
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