کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
964751 | 930600 | 2010 | 27 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
The emerging global financial architecture: Tracing and evaluating new patterns of the trilemma configuration
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
This paper investigates how the trilemma policy mix affects economic performance in developing countries. We find that greater monetary independence can dampen output volatility, while greater exchange rate stability is associated with greater output volatility, which can be mitigated by reserve accumulation; greater monetary autonomy is associated with higher inflation, while greater exchange rate stability and greater financial openness is linked with lower inflation; pursuit of exchange rate stability can increase output volatility when financial development is at an intermediate stage. Greater financial openness, when accompanied by a high level of financial development, reduces output volatility.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of International Money and Finance - Volume 29, Issue 4, June 2010, Pages 615–641
Journal: Journal of International Money and Finance - Volume 29, Issue 4, June 2010, Pages 615–641
نویسندگان
Joshua Aizenman, Menzie D. Chinn, Hiro Ito,