haku: @author Bacchetta, P. / yhteensä: 8
viite: 3 / 8
| Tekijä: | Bacchetta, P. Wincoop, E. van |
| Otsikko: | Does exchange-rate stability increase trade and welfare? |
| Lehti: | American Economic Review
2000 : DEC, VOL. 90:5, p. 1093-1109 |
| Asiasana: | EXCHANGE RATES TRADE WELFARE |
| Kieli: | eng |
| Tiivistelmä: | This paper develops a simple general-equilibrium framework to study the effect of the exchange-rate system on trade and welfare. An important feature of the model is deviations from purchasing-power parity, caused by rigid price setting in buyers' currency. In a benchmark model with separable preferences and only monetary shocks, trade is unaffected by the exchange-rate system, consistent with most evidence. |
SCIMA