| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w13613 |
| 来源ID | Working Paper 13613 |
| The Transmission of Domestic Shocks in the Open Economy | |
| Christopher J. Erceg; Christopher Gust; David López-Salido | |
| 发表日期 | 2007-11-26 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | This paper uses an open economy DSGE model to explore how trade openness affects the transmission of domestic shocks. For some calibrations, closed and open economies appear dramatically different, reminiscent of the implications of Mundell-Fleming style models. However, we argue such stark differences hinge on calibrations that impose an implausibly high trade price elasticity and Frisch elasticity of labor supply. Overall, our results suggest that the main effects of openness are on the composition of expenditure, and on the wedge between consumer and domestic prices, rather than on the response of aggregate output and domestic prices. |
| 主题 | Macroeconomics ; Monetary Policy ; International Economics ; International Macroeconomics |
| URL | https://www.nber.org/papers/w13613 |
| 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/571296 |
| 推荐引用方式 GB/T 7714 | Christopher J. Erceg,Christopher Gust,David López-Salido. The Transmission of Domestic Shocks in the Open Economy. 2007. |
| 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 | ||
| w13613.pdf（408KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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