TEMPORARY STABILIZATION POLICY - THE CASE OF FLEXIBLE PRICES AND EXCHANGE-RATES

被引：7

作者：

CALVO, GA ^{[1
]}

机构：

[1] UNIV PENN,PHILADELPHIA,PA 19104

来源：

JOURNAL OF ECONOMIC DYNAMICS & CONTROL | 1991年 / 15卷 / 01期

关键词：

D O I：

10.1016/0165-1889(91)90033-W

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The effects of a temporary slowdown in the rate of expansion of money supply are studied under Ramsey-Lucas and money-superneutrality assumptions. It is shown that such a policy expands consumption and leads to capital decumulation and current-account deficits in the short run. The model is a benchmark case in which temporary policy is always detrimental to welfare. Connection with the policy-credibility issue is briefly discussed. © 1991.

引用

页码：197 / 213

页数：17

共 12 条

[1] DYNAMIC BEHAVIOR OF CAPITAL ACCUMULATION IN A CASH-IN-ADVANCE MODEL [J].