Macroeconomic effects of nominal exchange rate regimes: new insights into the role of price dynamics
نویسندگان
چکیده
منابع مشابه
Macroeconomic effects of nominal exchange rate regimes: new insights into the role of price dynamics
This paper analyzes the effects of pegged and floating exchange rates using a two-country dynamic general equilibrium model that is calibrated to the US and a European aggregate. The model assumes shocks to money, productivity and the interest rate parity condition. It captures the fact that the sharp increase in nominal exchange rate volatility after the end of the Bretton Woods (BW) system wa...
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ژورنال
عنوان ژورنال: Journal of International Money and Finance
سال: 2005
ISSN: 0261-5606
DOI: 10.1016/j.jimonfin.2004.12.007