外国经济波动、资本流动与汇率调整

被引：7

作者：

范言慧

机构：

[1] 对外经济贸易大学金融学院

来源：

财贸经济 | 2015年 / 02期

关键词：

汇率波动; 非对称两国模型; 资本流动;

D O I：

10.19795/j.cnki.cn11-1166/f.2015.02.004

中图分类号：

F113 [世界经济问题]; F831.6 [国际金融关系];

学科分类号：

020206 ; 030206 ; 1407 ; 020202 ;

摘要：

本文在随机一般均衡非对称两国模型中探讨了在外生冲击下,资本流动对欠发达国家汇率波动的影响。本文发现:在浮动汇率制度、资本账户开放、投资者的资产调整存在时滞等假设下,发迭国家产出波动冲击所引发的投资者资产调整可引起欠发达国家货币的升值。但如发达国家产出波动冲击也引起了欠发达国家产出波动幅度的提高,则欠发达国家货币是否升值取决于欠发达国家产出波动增大的幅度是否低于发达国家。此外,发达国家居民越重视财富和社会地位,越有可能加深欠发达国家的汇率波动幅度。

引用

页码：45 / 59

页数：15

共 18 条

[1]

The macroeconomic effects of fiscal policy in a stochastically growing economy[J] . Toshiki Tamai.Economic Modelling . 2013

[2]

Capital Flows and Economic Growth in the Era of Financial Integration and Crisis, 1990–2010[J] . Joshua Aizenman,Yothin Jinjarak,Donghyun Park.Open Economies Review . 2013 (3)

[3]

Global banks and crisis transmission[J] . Sebnem Kalemli-Ozcan,Elias Papaioannou,Fabrizio Perri.Journal of International Economics . 2012

[4] Welfare cost of inflation in a stochastic balanced growth model [J].

Dibooglu, Sel ;

Kenc, Turalay .

ECONOMIC MODELLING, 2009, 26 (03) :650-658

[5]

Foreign debt supply in an imperfect international capital market: Theory and evidence[J] . Keunsuk Chung,Stephen J. Turnovsky.Journal of International Money and Finance . 2009 (2)

[6] Does openness to international financial flows raise productivity growth? [J].

Kose, M. Ayhan ;

Prasad, Eswar S. ;

Terrones, Marco E. .

JOURNAL OF INTERNATIONAL MONEY AND FINANCE, 2009, 28 (04) :554-580

[7]

The spirit of capitalism, asset pricing and growth in a small open economy[J] . Journal of International Money and Finance . 2007 (8)

[8]

Infrastructure, alternative government finance and stochastic endogenous growth[J] . Yoichi Gokan.Journal of Economic Dynamics and Control . 2007 (2)

[9]

Equilibrium consumption and precautionary savings in a stochastically growing economy[J] . Stephen J. Turnovsky,William T. Smith.Journal of Economic Dynamics and Control . 2005 (2)

[10]

Intertemporal substitution, risk aversion, and economic performance in a stochastically growing open economy[J] . Paola Giuliano,Stephen J. Turnovsky.Journal of International Money and Finance . 2003 (4)

← 1 2 →