کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
9549161 1371876 2005 9 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Friedman redux: Restricting monetary policy rules to support flexible exchange rates
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Friedman redux: Restricting monetary policy rules to support flexible exchange rates
چکیده انگلیسی
When the currency of export pricing is endogenous, there is a social benefit to exchange rate volatility that may be ignored by monetary authorities. As a result there is a welfare inferior equilibrium with zero exchange rate pass-through, and fixed exchange rates. This paper shows that there is a simple method of ruling out this equilibrium; restrict monetary authorities to respond only to domestic economic conditions.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Economics Letters - Volume 87, Issue 3, June 2005, Pages 291-299
نویسندگان
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