| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8983 |
| DP8983 Managing Currency Pegs | |
| Martín Uribe; Stephanie Schmitt-Grohé | |
| 发表日期 | 2012-05-21 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | The combination of a fixed exchange rate and downward nominal wage rigidity creates a real rigidity. In turn, this real rigidity makes the economy prone to involuntary unemployment during external crises. This paper presents a graphical analysis of alternative policy strategies aimed at mitigating this source of inefficiency. First- and second-best monetary and fiscal solutions are analyzed. Second-best solutions are prudential, whereas first-best solutions are not. |
| 主题 | International Macroeconomics |
| 关键词 | Capital controls Currency pegs Downward nominal wage rigidity Pecuniary externality. |
| URL | https://cepr.org/publications/dp8983 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/537802 |
| 推荐引用方式 GB/T 7714 | Martín Uribe,Stephanie Schmitt-Grohé. DP8983 Managing Currency Pegs. 2012. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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