کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
963657 | 930384 | 2010 | 21 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
The macroeconomic effects of monetary and fiscal policy in a small open economy: Does the exchange rate regime matter?
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
![عکس صفحه اول مقاله: The macroeconomic effects of monetary and fiscal policy in a small open economy: Does the exchange rate regime matter? The macroeconomic effects of monetary and fiscal policy in a small open economy: Does the exchange rate regime matter?](/preview/png/963657.png)
چکیده انگلیسی
This paper develops a small open economy model in the spirit of Obstfeld and Rogoff (1995). The introduction of endogenous traded sector output unlocks current account and real exchange rate effects. Within this framework where specific consideration is given to the case with fixed but adjustable parities, exchange rate devaluation generates similar qualitative effects as a money supply expansion under floating rates. Output and external effects of government spending shocks are broadly consistent with the adjusted basic non-micro founded Mundell and Fleming (MF) framework, but differ in significant ways from the baseline MF model. Contrary to the textbook MF model a government expenditure shock depreciates the nominal exchange rate and generates real effects under the fixed rate system.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of International Money and Finance - Volume 29, Issue 8, December 2010, Pages 1508-1528
Journal: Journal of International Money and Finance - Volume 29, Issue 8, December 2010, Pages 1508-1528
نویسندگان
Reginald Darius,