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来源类型 | CEPS Working Documents |
规范类型 | 论文 |
Inflation-Targeting, Flexible Exchange Rates and Macroeconomic Performance since the Great Recession | |
Thomas Barnebeck Andersen; Nikolaj Malchow-Møller; Jens Nordvig | |
发表日期 | 2014-03-27 |
出版年 | 2014 |
语种 | 英语 |
摘要 | Has inflation targeting (IT) conferred benefits in terms of economic growth on countries that followed this particular monetary policy strategy during the crisis period 2007-12? This paper answers this question in the affirmative. Countries with an IT monetary regime with flexible exchange rates weathered the crisis much better than countries with other monetary regimes, predominantly countries with fixed exchange rates. Part of this difference in growth performance reflects differences in export performance during the initial years of the crisis, which in turn can be explained by real exchange rate depreciations. However, IT seems also to confer other benefits on the countries above and beyond the effects from currency depreciation. Thomas Barnebeck Andersen and Nikolaj Malchow-Møller are in the Department of Business and Economics, University of Southern Denmark. Jens Nordvig is Head of Fixed Income Research Americas, Nomura Securities. |
主题 | Economy and Finance |
URL | https://www.ceps.eu/publications/inflation-targeting-flexible-exchange-rates-and-macroeconomic-performance-great |
来源智库 | Centre for European Policy Studies (Belgium) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/62836 |
推荐引用方式 GB/T 7714 | Thomas Barnebeck Andersen,Nikolaj Malchow-Møller,Jens Nordvig. Inflation-Targeting, Flexible Exchange Rates and Macroeconomic Performance since the Great Recession. 2014. |
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 | ||
WD394%20Andersen%20e(1883KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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