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https://ah.lib.nccu.edu.tw/handle/140.119/112056
題名: | Tariff-tax reform and exchange rate dynamics in a monetary economy | 作者: | Chao, Chi-Chur;Hu, Shih-Wen;Lai, Ching-Chong;Tai, Meng-Yi;Wang, Vey 賴景昌 |
貢獻者: | 經濟系 | 關鍵詞: | Mis-jump; Policy announcement; Tariff-tax reform | 日期: | 一月-2013 | 上傳時間: | 21-八月-2017 | 摘要: | Using a dynamic monetary model, this paper analyzes the short- and long-run impacts of a tariff-tax reform on the economy, with attention being paid to short-run fluctuations in exchange rates. When a policy reform is announced and if the public believe that it will decrease excess demand, the domestic currency depreciates now to reflect its future depreciation. On the contrary, the domestic currency immediately appreciates if the public believe that it will increase excess demand. However, if there is a relatively small increase in excess demand, the public may mis-react in the exchange rate market by observing currency depreciation first and then appreciation toward the steady-state rate. | 關聯: | The North American Journal of Economics and Finance,Volume 24, Pages 63-73 | 資料類型: | article | DOI: | https://doi.org/10.1016/j.najef.2012.07.004 |
Appears in Collections: | 會議論文 |
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