双边货币危机的福利成本:国际贸易的作用

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2020-12-28 DOI:10.1111/infi.12385

Hakan Yilmazkuday

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引用次数: 0

摘要

本文表明，在控制本币贬值后，双边货币危机使双边贸易减少了50%。使用贸易模型，这些减少与货币危机的福利成本有关。结果表明，在1960年至2014年的23次不同的货币危机中，单一货币危机可以通过国际贸易的变化导致福利减少，这些变化相当于自给自足成本的10%以上(最高41%)。这些福利成本也被证明大于自由贸易协定和在25个不同的货币危机时期使用共同货币所带来的福利收益。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Welfare costs of bilateral currency crises: The role of international trade

This paper shows that bilateral currency crises reduce bilateral trade up to 50% after controlling for the depreciation rate. Using a trade model, these reductions are connected to the welfare costs of currency crises. The results show that a single currency crisis can result in welfare reductions through changes in international trade corresponding to more than 10% (and up to 41%) of the costs of autarky for 23 different currency crisis episodes between 1960 and 2014. These welfare costs are also shown to be greater than the welfare gains from having free trade agreements and using common currencies for 25 different currency crisis episodes.

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.