| 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 | en |
| ISSN | 0261-5606 |
| 期刊性質 | 國內 |
| 收錄於 | |
| 產學合作 | |
| 通訊作者 | |
| 審稿制度 | 否 |
| 國別 | TWN |
| 公開徵稿 | |
| 出版型式 | ,電子版 |
| 相關連結 |
機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/23874 ) |
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