教師資料查詢 | 類別: 期刊論文 | 教師: 蕭明福 SHAW MING FU (瀏覽個人網頁)

標題:Anticipated policy and endogenous growth in a small open monetary economy
學年94
學期1
出版(發表)日期2005/09/01
作品名稱Anticipated policy and endogenous growth in a small open monetary economy
作品名稱(其他語言)
著者蕭明福; Shaw, Ming-fu; Lai, Ching-chong; Chang, Wen-ya
單位淡江大學產業經濟學系
出版者Elsevier
著錄名稱、卷期、頁數Journal of international money and finance 24(5), pp.719-743
摘要This paper analyzes the effects of a preannounced change in the growth rate of credit in a small open economy. The model, based on an endogenous growth model, introduces the adjustment costs for investment and the role of money in the production function and highlights the dynamic behavior of an open economy. We show that an increase in the rate of anticipated credit growth lowers the steady-growth rate of capital, real money balances, and real output. We also find that the rate of depreciation of the domestic currency will rise steadily toward its stationary level. The anticipated domestic credit growth hence exhibits monetary nonsuperneutrality in both the rate and the level of output in the intermediate and the long run.
關鍵字Announced credit growth;Endogenous growth;Small open economy
語言英文
ISSN0261-5606
期刊性質國內
收錄於
產學合作
通訊作者
審稿制度
國別中華民國
公開徵稿
出版型式,電子版
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