一种带有昂贵外币的动态货币模式

IF 2.2 3区经济学 Q2 ECONOMICS

Journal of International Trade & Economic Development Pub Date : 1999-12-01 DOI:10.1080/09638199900000020

Marcelo Bianconi

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引用次数: 6

摘要

我提出了一个动态的一般均衡货币模型，包括本币和外币以及交易债券，其中转换为外币有调整成本。重点是短期与长期的权衡和过渡动态的国内和国外的货币扰动作为效用的货币属性的函数。主要发现是，短期和长期的权衡和过渡动态以及隐含的均衡滞后性是这类模型中国内外货币扰动定性结果的关键决定因素。

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A dynamic monetary model with costly foreign currency

I present a dynamic general equilibrium monetary model with domestic and foreign currencies and a traded bond where there is an adjustment cost to switch into foreign currency. The focus is on the short versus long run trade-offs and transitional dynamics of domestic and foreign monetary disturbances as a function of attributes of currencies in utility. The main finding is that short and long run trade-offs and transitional dynamics together with the implied hysteresis property of the equilibrium are critical determinants of the qualitative results of domestic and foreign monetary disturbances in this class of model.

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来源期刊

Journal of International Trade & Economic Development ECONOMICS-

CiteScore

4.00

自引率

19.00%

发文量

期刊介绍： The Journal of International Trade and Economic Development ( JITED) focuses on international economics, economic development, and the interface between trade and development. The links between trade and development economics are critical at a time when fluctuating commodity prices, ongoing production fragmentation, and trade liberalisation can radically affect the economies of advanced and developing countries. Our aim is to keep in touch with the latest developments in research as well as setting the agenda for future analysis. Publication of high quality articles covering; theoretical and applied issues in international and development economics; econometric applications of trade and/or development issues based on sound theoretical economic models or testing fundamental economic hypotheses; models of structural change; trade and development issues of economies in Eastern Europe, Asia and the Pacific area; papers on specific topics which are policy-relevant; review articles on important branches of the literature including controversial and innovative ideas are also welcome. JITED is designed to meet the needs of international and development economists, economic historians, applied economists, and policy makers. The international experts who make up the journal’s Editorial Board encourage contributions from economists world-wide.