کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
7355407 1477786 2018 34 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
In search of a unit of stable global purchasing power
ترجمه فارسی عنوان
در جستجوی یک واحد قدرت خرید جهانی پایدار است
کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی
This paper introduces an improved version of the "World Currency Unit" (Ho, 2000), a synthetic unit of account representing constant real purchasing power. If commodity prices and bonds are quoted in this unit while allowing settlement in any currency, real prices and real interest rates will become more transparent. We show that the real prices of commodities are sensitive to movements in the nominal exchange value of the US dollar, and that they are Granger-caused by movements in the US dollar's nominal effective exchange rate. The proposed unit has implications for efficiency and the stability of the international monetary order.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: International Review of Economics & Finance - Volume 56, July 2018, Pages 99-108
نویسندگان
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