of this are the rapid growth of the international financial system which has resulted in high mobility of capital across political frontiers and the movement away from the Rretton Woods system of fixed exchange rates in the early 1970s towards the present system of generalised floating rates. Anot...
Argy, V. Choice of Intermediate Money Target in a Deregulated and an Integrated Economy with Flexible Exchange Rates. IMF Econ Rev 30, 727–754 (1983). https://doi.org/10.2307/3866784 Download citation Published01 December 1983 Issue Date01 December 1983 DOIhttps://doi.org/10.2307/3866784 Acc...
The purpose of this paper is to analyse whether fiscal policies can alleviate the effects of the zero lower bound (ZLB) on interest rates and if they should be coordinated internationally. The analysis is carried out using EAGLE, a DSGE model of the global economy. We consider that the fisca...
This paper examines the relationship of the term structure of interest rates to monetary policy instruments and to subsequent real activity and inflation i... A Estrella,FS Mishkin - 《Nber Working Papers》 被引量: 190发表: 1995年 Monetary and Fiscal Policy with Flexible Exchange Rates If price...
IN THE NEW NEOCLASSICAL SYNTHESIS.The article discusses fundamental principles of monetary policy and monetary policy models as seen through the New Neoclassical Synthesis (NNS), also known as the New Keynesian model, examining price stability, flexible exchange rates, and fixed foreign exchange rates....
开通VIP International Economics Li Yumei Economics & Management School of Southwest University International Economics Chapter 16 The Price Adjustment Mechanism with Flexible and Fixed Exchange Rates Organization Introduction Adjustment with Flexible Exchange Rates Effect of Exchange Rate Changes on Domestic Pric...
Flowerland is an open economy with a flexible exchange rate regime. The natural rate of unemployment is 5%, the frictional rate of unemployment is 4%, and the actual rate of unemployment is 7%. (a) What is the numerical value of the cyclical rate of unemployment in Flowerland? (b) ...
Second, exchange rates are fully determined by market forces. Third, the banking system is assumed to be deregulated. The paper uses Poole's well-known methodological framework for selecting a money aggregate. According to this framework, the optimal money aggregate is the one that minimizes the ...
The article discusses fundamental principles of monetary policy and monetary policy models as seen through the New Neoclassical Synthesis (NNS), also known as the New Keynesian model, examining price stability, flexible exchange rates, and fixed foreign exchange rates. A description is provided of the...
exchange rates, but as Alan Greenspan said when he was chairing the Fed (The Federal Reserve System), none of the models work. Nobody really knows what determines the exchange rate. The mainstream also argues that there is no strong reason to link currencies to nations. So they support ...