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https://ah.lib.nccu.edu.tw/handle/140.119/36170| 題名: | 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 |
作者: | 蔡志堅 Tsai, Chih-Chien |
貢獻者: | 朱美麗 Chu, Mei-Lie 蔡志堅 Tsai, Chih-Chien |
關鍵詞: | 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 |
日期: | 2004 | 上傳時間: | 18-九月-2009 | 摘要: | 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. | 參考文獻: | Abrams, B. A. and F. R. Settle (2003), “Do Fixed Exchange Rates Fetter Monetary Policy? 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描述: | 碩士 國立政治大學 經濟研究所 92258006 93 |
資料來源: | http://thesis.lib.nccu.edu.tw/record/#G0922580061 | 資料類型: | thesis |
| Appears in Collections: | 學位論文 |
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