Please use this identifier to cite or link to this item: https://ah.nccu.edu.tw/handle/140.119/36170


Title: More on Monetary Policy in a Small Open Economy with Imperfect International Capital mobility: A Credit View
信用市場、資本不完全移動與浮動匯率之分析
Authors: 蔡志堅
Tsai, Chih-Chien
Contributors: 朱美麗
Chu, Mei-Lie
蔡志堅
Tsai, Chih-Chien
Keywords: 信用管道
資本不完全移動
浮動匯率
Fleming命題
共整合
credit channel
imperfect internaitonal capital mobility
floating exchange rate
Fleming proposition
cointegration
Date: 2004
Issue Date: 2009-09-18 17:22:40 (UTC+8)
Abstract: A considerable body of theoretical and empirical literature has evaluated the credit channel of monetary transmission. This paper sets up an open-economy model under floating exchange rates with imperfect international capital mobility based on the Bernanke and Blinder model (1988). Employing our model, we show that a change in money supply has different impacts on the economy in many cases compared to the previous literature. The exchange rate puzzle may occur and when the exchange rate puzzle appears, the Fleming proposition is violated. Besides, by means of a cointegration analysis, we empirically verify the particular case of the exchange rate puzzle with the monthly data from May 1984 to January 2005 in Taiwan. Therefore, our empirical evidences can be matched with our theoretical derivations successfully.
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Description: 碩士
國立政治大學
經濟研究所
92258006
93
Source URI: http://thesis.lib.nccu.edu.tw/record/#G0922580061
Data Type: thesis
Appears in Collections:[經濟學系] 學位論文

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