全球智库信息集成服务系统(G2TT): Does Exchange Rate Risk Matter for Welfare?

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w9900
来源ID	Working Paper 9900
	Does Exchange Rate Risk Matter for Welfare?
	Paul R. Bergin; Ivan Tchakarov
发表日期	2003-08-18
出版年	2003
语种	英语
摘要	Volatility in exchange rates is a prominent feature of open economies, a fact which has motivated elaborate attempts in many countries at exchange rate management. This paper analyzes quantitatively the welfare effects of exchange rate risk in a general two-country environment. It finds that the effects of uncertainty tend to be small for the types of simplified cases considered in past literature. But it identifies other cases, not considered previously, in which these effects can be significantly larger. These include habit persistence, where agents are more sensitive to risk, and also incomplete asset market structures which allow for asymmetries between countries. The latter case suggests that countries which are hosts to an international reserve currency, such as the U.S. or members of the euro zone, may accrue
主题	International Economics ; International Macroeconomics ; Development and Growth ; Innovation and R& ; D ; Other ; History of Economic Thought
URL	https://www.nber.org/papers/w9900
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/567525
推荐引用方式 GB/T 7714	Paul R. Bergin,Ivan Tchakarov. Does Exchange Rate Risk Matter for Welfare?. 2003.

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
w9900.pdf（433KB）	智库出版物		限制开放	CC BY-NC-SA	浏览