學術產出-Theses

題名 美元本位制度下之最適關稅政策
Optimal tariff under a dollar standard
作者 陳建璋
貢獻者 黃俞寧
陳建璋
關鍵詞 美元
最適關稅
參考貨幣
US dollar
Optimal tariff
Reference currency
日期 2008
上傳時間 19-Sep-2009 13:41:05 (UTC+8)
摘要 Following Devereux, Shi, and Xu(2007), this thesis analyzes the effects of tariffs and derives the optimal tariff under the circumstances that the US dollar acts as an international ‘vehicle’ currency— all traded goods prices between the US and the rest of the world are set in US dollars. We set a tariff policy rule which allows the authority to react to country-specific productivity shocks. The analysis on the equilibrium shows that the current tariff imposed by the US on its output is expansionary. However, for the rest of the world, a current tariff imposed by the US is contractionary. Optimal tariff under flexible and fixed exchange rates are examined. Under flexible exchange rate, optimal tariff policy parameters of the US are dependent only on the monetary policy of its own being indifferent to the exchange rate movement;the exchange rate movement is crucial to the optimal tariff policy of the rest of the world. Nevertheless, the optimal tariff policy of the US under fixed exchange rate is the same as that under the flexible exchange rate, while the policy of the rest of the world is altered owing to the loss of control on its domestic money supply to do the unilateral peg.
參考文獻 Bacchetta, P. and van Wincoop, E.(2005).“A Theory of Currency Denomination of International Trade,” Journal of International Economics, v.67︰295-319
Blanchard, O.(1984).“Current and Anticipated Deficits, Interest Rates and Economic Activity,” European Economic Review, v.25:7-27
Blanchard, O.(1985).“Debt, Deficits and Finite Horizons,” Journal of Political Economy, v.93:223-247
Devereux, M. B.(1997).“Real Exchange Rates and Macroeconomics:Evidence and Theory,” Canadian Journal of Economics, v.30:773-808
Devereux, M. B. and Betts, C.(2001).“The International Effects of Monetary and Fiscal Policy in a Two-Country Model,” Money, Capital Mobility, and Trade︰Essays in honor of Robert A. Mundell︰9-52
Devereux, M. B. and Engel, C.(2003).“Monetary Policy in the Open Economy Revisited:Price Setting and Exchange Rate Flexibility,” Review of Economic Studies, v.70:765-783
Devereux, M. B. and Shi, K. and Xu, J.(2007).“Global Monetary Policy under a Dollar Standard,” Journal of International Economics, v.71, iss.1 ﹕113-132
Eichengreen, B. J.(1981).“A Dynamic Model of Tariffs, Output, and Employment Under Flexible Exchange Rates,” Journal of International Economics, v.11︰341-359
Eichengreen, B. J. and Mathieson, D. J.(2000).“The Currency Composition of Foreign Exchange Reserves – Retrospect and Prospect,” IMF Working Papers 00/131
Engel, C. and Kletzer, K.(1990).“Tariffs and savings in a model with new generations,” Journal of International Economics, v.28︰71-91
Faruqee, H., and Laxton, D., and Muir, D., and Pesenti, P.(2008).“Would Protectionism Defuse Global Imbalances and Spur Economic Activity?A Scenario Analysis,” Journal of Economic Dynamics and Control, v.32︰2651-2689
Fender, J. and Yip, C. K.(2000).“Tariffs and Exchange Rate Dynamics Redux,” Journal of International Money and Finance, v.19, iss.5 ﹕633-655
Frensch, R.(2002).“Tariffs in Monopolistic competition models with leisure-consumption trade-off,” Economics Letters, v.77︰255-263
Goldberg, L. S. and Tille, C.(2005).“Vehicle Currency Use in International Trade,” FRB of New York Staff Report , no.200
Gross, D.(1987).“A Note on the Optimal Tariff , Retaliation and the Welfare Loss from Tariff Wars in a Framework with Intra-industry Trade,” Journal of International Economics, v.23︰357-367
Krugman, P.(1982).“The Macroeconomics of Protection with a Floating Exchange Rate,” in K. Brunner and A. H. Meltzer, eds., Monetary Regimes and Protectionism, Carnegie-Rochester Conference Series on Public Policy, v.16
Mckinnon, R.(2001).“The International Dollar Standard and the Sustainability of US Current Account Deficits,” mimeo, Stanford University
Mckinnon, R.(2002).“The Euro versus the Dollar:Resolving a Historical Puzzle,” Journal of Policy Modeling, v.24:355-359
Mundell, R.(1961).“Flexible Exchange Rates and Employment Policy,” Canadian Journal of Economics and Political Science, v.27:509-517
Obstfeld, M. and Rogoff, K.(1995).“The Mirage of Fixed Exchange Rates,” Journal of Economic Perspectives, v.9︰73-96
Obstfeld, M. and Rogoff, K.(1995).“Exchange Rate Dynamics Redux,” Journal of Political Economy, v.103, no.3︰624-660
Obstfeld, M. and Rogoff, K.(1996).“Foundations of International Macroeconomics,” MIT Press, Cambridge, MA
Obstfeld, M. and Rogoff, K.(2000).“New Direction for Stochastic Open Economy Models,” Journal of International Economics, v.50:117-153
Obstfeld, M.(2006).“Pricing-to-Market, the Interest-Rate Rule, and the Exchange Rate,” National Bureau of Economic Research, NBER Working Papers, no.12699
Ostry, J. and Rose, A.(1992).“An Empirical Evaluation of the Macroeconomic Effects of Tariffs,” Journal of International Money and Finance, v.11︰63-79
Sen, P. and Turnovsky, S. J.(1989).“Tariffs, Capital Accumulation, and the Current Account in a Small Open Economy,” International Economic Review, v.30, no.4:811-831
Tavlas, G. S.(1997).“The International Use of the US dollar︰An Optimum Currency Area Perspective, ” The World Economy, v.20︰709-747
van Wijnbergen, S.(1987).“Tariffs, Employment and the Current Account︰Real Wage Resistance and the Macroeconomics of Protectionism,” International Economic Review, v.28, no.3︰691-706
Yaari, M.(1965).“Uncertain Lifetime, Life Insurance, and the Theory of the Consumer,” Review of Economic Studies, v.32︰137-150
描述 碩士
國立政治大學
經濟研究所
96258020
97
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0096258020
資料類型 thesis
dc.contributor.advisor 黃俞寧zh_TW
dc.contributor.author (Authors) 陳建璋zh_TW
dc.creator (作者) 陳建璋zh_TW
dc.date (日期) 2008en_US
dc.date.accessioned 19-Sep-2009 13:41:05 (UTC+8)-
dc.date.available 19-Sep-2009 13:41:05 (UTC+8)-
dc.date.issued (上傳時間) 19-Sep-2009 13:41:05 (UTC+8)-
dc.identifier (Other Identifiers) G0096258020en_US
dc.identifier.uri (URI) https://nccur.lib.nccu.edu.tw/handle/140.119/37413-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 經濟研究所zh_TW
dc.description (描述) 96258020zh_TW
dc.description (描述) 97zh_TW
dc.description.abstract (摘要) Following Devereux, Shi, and Xu(2007), this thesis analyzes the effects of tariffs and derives the optimal tariff under the circumstances that the US dollar acts as an international ‘vehicle’ currency— all traded goods prices between the US and the rest of the world are set in US dollars. We set a tariff policy rule which allows the authority to react to country-specific productivity shocks. The analysis on the equilibrium shows that the current tariff imposed by the US on its output is expansionary. However, for the rest of the world, a current tariff imposed by the US is contractionary. Optimal tariff under flexible and fixed exchange rates are examined. Under flexible exchange rate, optimal tariff policy parameters of the US are dependent only on the monetary policy of its own being indifferent to the exchange rate movement;the exchange rate movement is crucial to the optimal tariff policy of the rest of the world. Nevertheless, the optimal tariff policy of the US under fixed exchange rate is the same as that under the flexible exchange rate, while the policy of the rest of the world is altered owing to the loss of control on its domestic money supply to do the unilateral peg.en_US
dc.description.tableofcontents 1. Introduction
2. The Model
2.1 Goods Markets
2.2 Households
2.3 Timing
2.4 Risk Sharing
2.5 Production Technology
2.6 Optimal Conditions
2.7 Firms, Price Setting, and Tariffs
2.8 Policies
2.9 Equilibrium
3. Flexible-Price Equilibrium
4. Model Solution
5. Equilibrium Analysis
6. Welfare and Optimal Tariff Policy Rules Under Flexible Exchange Rate
7. Welfare and Optimal Tariff Policy Rules Under Fixed Exchange Rate
8. Conclusions
References
Appendix
zh_TW
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dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0096258020en_US
dc.subject (關鍵詞) 美元zh_TW
dc.subject (關鍵詞) 最適關稅zh_TW
dc.subject (關鍵詞) 參考貨幣zh_TW
dc.subject (關鍵詞) US dollaren_US
dc.subject (關鍵詞) Optimal tariffen_US
dc.subject (關鍵詞) Reference currencyen_US
dc.title (題名) 美元本位制度下之最適關稅政策zh_TW
dc.title (題名) Optimal tariff under a dollar standarden_US
dc.type (資料類型) thesisen
dc.relation.reference (參考文獻) Bacchetta, P. and van Wincoop, E.(2005).“A Theory of Currency Denomination of International Trade,” Journal of International Economics, v.67︰295-319zh_TW
dc.relation.reference (參考文獻) Blanchard, O.(1984).“Current and Anticipated Deficits, Interest Rates and Economic Activity,” European Economic Review, v.25:7-27zh_TW
dc.relation.reference (參考文獻) Blanchard, O.(1985).“Debt, Deficits and Finite Horizons,” Journal of Political Economy, v.93:223-247zh_TW
dc.relation.reference (參考文獻) Devereux, M. B.(1997).“Real Exchange Rates and Macroeconomics:Evidence and Theory,” Canadian Journal of Economics, v.30:773-808zh_TW
dc.relation.reference (參考文獻) Devereux, M. B. and Betts, C.(2001).“The International Effects of Monetary and Fiscal Policy in a Two-Country Model,” Money, Capital Mobility, and Trade︰Essays in honor of Robert A. Mundell︰9-52zh_TW
dc.relation.reference (參考文獻) Devereux, M. B. and Engel, C.(2003).“Monetary Policy in the Open Economy Revisited:Price Setting and Exchange Rate Flexibility,” Review of Economic Studies, v.70:765-783zh_TW
dc.relation.reference (參考文獻) Devereux, M. B. and Shi, K. and Xu, J.(2007).“Global Monetary Policy under a Dollar Standard,” Journal of International Economics, v.71, iss.1 ﹕113-132zh_TW
dc.relation.reference (參考文獻) Eichengreen, B. J.(1981).“A Dynamic Model of Tariffs, Output, and Employment Under Flexible Exchange Rates,” Journal of International Economics, v.11︰341-359zh_TW
dc.relation.reference (參考文獻) Eichengreen, B. J. and Mathieson, D. J.(2000).“The Currency Composition of Foreign Exchange Reserves – Retrospect and Prospect,” IMF Working Papers 00/131zh_TW
dc.relation.reference (參考文獻) Engel, C. and Kletzer, K.(1990).“Tariffs and savings in a model with new generations,” Journal of International Economics, v.28︰71-91zh_TW
dc.relation.reference (參考文獻) Faruqee, H., and Laxton, D., and Muir, D., and Pesenti, P.(2008).“Would Protectionism Defuse Global Imbalances and Spur Economic Activity?A Scenario Analysis,” Journal of Economic Dynamics and Control, v.32︰2651-2689zh_TW
dc.relation.reference (參考文獻) Fender, J. and Yip, C. K.(2000).“Tariffs and Exchange Rate Dynamics Redux,” Journal of International Money and Finance, v.19, iss.5 ﹕633-655zh_TW
dc.relation.reference (參考文獻) Frensch, R.(2002).“Tariffs in Monopolistic competition models with leisure-consumption trade-off,” Economics Letters, v.77︰255-263zh_TW
dc.relation.reference (參考文獻) Goldberg, L. S. and Tille, C.(2005).“Vehicle Currency Use in International Trade,” FRB of New York Staff Report , no.200zh_TW
dc.relation.reference (參考文獻) Gross, D.(1987).“A Note on the Optimal Tariff , Retaliation and the Welfare Loss from Tariff Wars in a Framework with Intra-industry Trade,” Journal of International Economics, v.23︰357-367zh_TW
dc.relation.reference (參考文獻) Krugman, P.(1982).“The Macroeconomics of Protection with a Floating Exchange Rate,” in K. Brunner and A. H. Meltzer, eds., Monetary Regimes and Protectionism, Carnegie-Rochester Conference Series on Public Policy, v.16zh_TW
dc.relation.reference (參考文獻) Mckinnon, R.(2001).“The International Dollar Standard and the Sustainability of US Current Account Deficits,” mimeo, Stanford Universityzh_TW
dc.relation.reference (參考文獻) Mckinnon, R.(2002).“The Euro versus the Dollar:Resolving a Historical Puzzle,” Journal of Policy Modeling, v.24:355-359zh_TW
dc.relation.reference (參考文獻) Mundell, R.(1961).“Flexible Exchange Rates and Employment Policy,” Canadian Journal of Economics and Political Science, v.27:509-517zh_TW
dc.relation.reference (參考文獻) Obstfeld, M. and Rogoff, K.(1995).“The Mirage of Fixed Exchange Rates,” Journal of Economic Perspectives, v.9︰73-96zh_TW
dc.relation.reference (參考文獻) Obstfeld, M. and Rogoff, K.(1995).“Exchange Rate Dynamics Redux,” Journal of Political Economy, v.103, no.3︰624-660zh_TW
dc.relation.reference (參考文獻) Obstfeld, M. and Rogoff, K.(1996).“Foundations of International Macroeconomics,” MIT Press, Cambridge, MAzh_TW
dc.relation.reference (參考文獻) Obstfeld, M. and Rogoff, K.(2000).“New Direction for Stochastic Open Economy Models,” Journal of International Economics, v.50:117-153zh_TW
dc.relation.reference (參考文獻) Obstfeld, M.(2006).“Pricing-to-Market, the Interest-Rate Rule, and the Exchange Rate,” National Bureau of Economic Research, NBER Working Papers, no.12699zh_TW
dc.relation.reference (參考文獻) Ostry, J. and Rose, A.(1992).“An Empirical Evaluation of the Macroeconomic Effects of Tariffs,” Journal of International Money and Finance, v.11︰63-79zh_TW
dc.relation.reference (參考文獻) Sen, P. and Turnovsky, S. J.(1989).“Tariffs, Capital Accumulation, and the Current Account in a Small Open Economy,” International Economic Review, v.30, no.4:811-831zh_TW
dc.relation.reference (參考文獻) Tavlas, G. S.(1997).“The International Use of the US dollar︰An Optimum Currency Area Perspective, ” The World Economy, v.20︰709-747zh_TW
dc.relation.reference (參考文獻) van Wijnbergen, S.(1987).“Tariffs, Employment and the Current Account︰Real Wage Resistance and the Macroeconomics of Protectionism,” International Economic Review, v.28, no.3︰691-706zh_TW
dc.relation.reference (參考文獻) Yaari, M.(1965).“Uncertain Lifetime, Life Insurance, and the Theory of the Consumer,” Review of Economic Studies, v.32︰137-150zh_TW