REAL EXCHANGE-RATE EFFECTS OF MONETARY DISTURBANCES UNDER DIFFERENT DEGREES OF EXCHANGE-RATE FLEXIBILITY - AN EMPIRICAL-ANALYSIS

被引：2

作者：

GLICK, R

KRETZMER, P

WIHLBORG, C

机构：

[1] NATIONSBANC CAPITAL MARKETS,NEW YORK,NY 10004

[2] GOTHENBURG UNIV,SCH ECON & COMMERCIAL LAW,S-41125 GOTHENBURG,SWEDEN

来源：

JOURNAL OF INTERNATIONAL ECONOMICS | 1995年 / 38卷 / 3-4期

关键词：

EXCHANGE RATE; MONETARY POLICY;

D O I：

10.1016/0022-1996(94)01360-5

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We examine the effects of monetary policy on the real exchange rate. In a cross-country analysis, we find that the variability of money shocks and the degree of informativeness of the exchange rate are important determinants of the magnitude of the real exchange rate effects of domestic money shocks. Our results are consistent with previous cross-country evidence on the output effects of money shocks but also highlight the role of the exchange rate regime.

引用

页码：249 / 273

页数：25

共 23 条

[1]

Barro R., 1981, MONEY EXPECTATIONS B, P41

[2] RATIONAL EXPECTATIONS AND ROLE OF MONETARY-POLICY [J].