| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w5874 |
| 来源ID | Working Paper 5874 |
| Does the Nominal Exchange Rate Regime Matter? | |
| Atish R. Ghosh; Anne-Marie Gulde; Jonathan D. Ostry; Holger C. Wolf | |
| 发表日期 | 1997 |
| 出版年 | 1997 |
| 语种 | 英语 |
| 摘要 | The relevance of the exchange rate regime for macroeconomic performance remains a key issue in international macroeconomics. We use a comprehensive dataset covering nine regime-types for one hundred forty countries over thirty years to examine the link between the regime, inflation, and growth. Two sturdy stylized facts emerge. First, inflation is both lower and more stable under pegged regimes, reflecting both slower money supply and faster money demand growth. Second, real volatility is higher under pegged regimes. In contrast, growth varies only slightly across regimes, though investment is somewhat higher and trade growth somewhat lower under pegged regimes. Pegged regimes are thus characterized by lower inflation but more pronounced output volatility. |
| 主题 | International Economics ; International Finance ; International Macroeconomics |
| URL | https://www.nber.org/papers/w5874 |
| 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/563368 |
| 推荐引用方式 GB/T 7714 | Atish R. Ghosh,Anne-Marie Gulde,Jonathan D. Ostry,et al. Does the Nominal Exchange Rate Regime Matter?. 1997. |
| 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 | ||
| w5874.pdf（1604KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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