Can endogenous changes in price flexibility alter the relative welfare performance of exchange rate regimes?:
"A dynamic general equilibrium model of a small open economy is presented where agents may choose the frequency of price changes. A fixed exchange rate is compared to inflation targeting and money targeting. A fixed rate generates more price flexibility than the other regimes when the expenditu...
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Cambridge, Mass.
National Bureau of Economic Research
2005
|
| Series: | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series
11092 |
| Subjects: | |
| Online Access: | Volltext |
| Summary: | "A dynamic general equilibrium model of a small open economy is presented where agents may choose the frequency of price changes. A fixed exchange rate is compared to inflation targeting and money targeting. A fixed rate generates more price flexibility than the other regimes when the expenditure switching effect is relatively weak, while money targeting generates more flexibility when the expenditure switching effect is strong. These endogenous changes in price flexibility can lead to changes in the welfare performance of regimes. But, for the model calibration considered here, the extra price flexibility generated by a peg does not compensate for the loss of monetary independence. Inflation targeting yields the highest welfare level despite generating the least priceflexibility of the three regimes considered"--National Bureau of Economic Research web site. |
| Physical Description: | 22, [5] S. graph. Darst. |
Staff View
MARC
| LEADER | 00000nam a2200000 cb4500 | ||
|---|---|---|---|
| 001 | BV019891023 | ||
| 003 | DE-604 | ||
| 005 | 20100219 | ||
| 007 | t | ||
| 008 | 050720s2005 xxud||| |||| 00||| eng d | ||
| 035 | |a (OCoLC)57702901 | ||
| 035 | |a (DE-599)BVBBV019891023 | ||
| 040 | |a DE-604 |b ger |e rakwb | ||
| 041 | 0 | |a eng | |
| 044 | |a xxu |c XD-US | ||
| 049 | |a DE-703 |a DE-521 |a DE-19 | ||
| 050 | 0 | |a HB1 | |
| 084 | |a QB 910 |0 (DE-625)141231: |2 rvk | ||
| 100 | 1 | |a Senay, Özge |d 1970- |e Verfasser |0 (DE-588)129196886 |4 aut | |
| 245 | 1 | 0 | |a Can endogenous changes in price flexibility alter the relative welfare performance of exchange rate regimes? |c Ozge Senay ; Alan Sutherland |
| 264 | 1 | |a Cambridge, Mass. |b National Bureau of Economic Research |c 2005 | |
| 300 | |a 22, [5] S. |b graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 490 | 1 | |a National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |v 11092 | |
| 520 | 3 | |a "A dynamic general equilibrium model of a small open economy is presented where agents may choose the frequency of price changes. A fixed exchange rate is compared to inflation targeting and money targeting. A fixed rate generates more price flexibility than the other regimes when the expenditure switching effect is relatively weak, while money targeting generates more flexibility when the expenditure switching effect is strong. These endogenous changes in price flexibility can lead to changes in the welfare performance of regimes. But, for the model calibration considered here, the extra price flexibility generated by a peg does not compensate for the loss of monetary independence. Inflation targeting yields the highest welfare level despite generating the least priceflexibility of the three regimes considered"--National Bureau of Economic Research web site. | |
| 650 | 4 | |a Ökonometrisches Modell | |
| 650 | 4 | |a Foreign exchange rates |x Econometric models | |
| 650 | 4 | |a Monetary policy | |
| 700 | 1 | |a Sutherland, Alan |e Verfasser |4 aut | |
| 776 | 0 | 8 | |i Erscheint auch als |n Online-Ausgabe |
| 830 | 0 | |a National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |v 11092 |w (DE-604)BV002801238 |9 11092 | |
| 856 | 4 | 1 | |u http://papers.nber.org/papers/w11092.pdf |z kostenfrei |3 Volltext |
| 999 | |a oai:aleph.bib-bvb.de:BVB01-013215035 | ||
Record in the Search Index
| _version_ | 1804133425852973056 |
|---|---|
| any_adam_object | |
| author | Senay, Özge 1970- Sutherland, Alan |
| author_GND | (DE-588)129196886 |
| author_facet | Senay, Özge 1970- Sutherland, Alan |
| author_role | aut aut |
| author_sort | Senay, Özge 1970- |
| author_variant | ö s ös a s as |
| building | Verbundindex |
| bvnumber | BV019891023 |
| callnumber-first | H - Social Science |
| callnumber-label | HB1 |
| callnumber-raw | HB1 |
| callnumber-search | HB1 |
| callnumber-sort | HB 11 |
| callnumber-subject | HB - Economic Theory and Demography |
| classification_rvk | QB 910 |
| ctrlnum | (OCoLC)57702901 (DE-599)BVBBV019891023 |
| discipline | Wirtschaftswissenschaften |
| format | Book |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>02348nam a2200385 cb4500</leader><controlfield tag="001">BV019891023</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">20100219 </controlfield><controlfield tag="007">t</controlfield><controlfield tag="008">050720s2005 xxud||| |||| 00||| eng d</controlfield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)57702901</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV019891023</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">rakwb</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="044" ind1=" " ind2=" "><subfield code="a">xxu</subfield><subfield code="c">XD-US</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-703</subfield><subfield code="a">DE-521</subfield><subfield code="a">DE-19</subfield></datafield><datafield tag="050" ind1=" " ind2="0"><subfield code="a">HB1</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">QB 910</subfield><subfield code="0">(DE-625)141231:</subfield><subfield code="2">rvk</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Senay, Özge</subfield><subfield code="d">1970-</subfield><subfield code="e">Verfasser</subfield><subfield code="0">(DE-588)129196886</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Can endogenous changes in price flexibility alter the relative welfare performance of exchange rate regimes?</subfield><subfield code="c">Ozge Senay ; Alan Sutherland</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Cambridge, Mass.</subfield><subfield code="b">National Bureau of Economic Research</subfield><subfield code="c">2005</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">22, [5] S.</subfield><subfield code="b">graph. Darst.</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">n</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">nc</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="1" ind2=" "><subfield code="a">National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series</subfield><subfield code="v">11092</subfield></datafield><datafield tag="520" ind1="3" ind2=" "><subfield code="a">"A dynamic general equilibrium model of a small open economy is presented where agents may choose the frequency of price changes. A fixed exchange rate is compared to inflation targeting and money targeting. A fixed rate generates more price flexibility than the other regimes when the expenditure switching effect is relatively weak, while money targeting generates more flexibility when the expenditure switching effect is strong. These endogenous changes in price flexibility can lead to changes in the welfare performance of regimes. But, for the model calibration considered here, the extra price flexibility generated by a peg does not compensate for the loss of monetary independence. Inflation targeting yields the highest welfare level despite generating the least priceflexibility of the three regimes considered"--National Bureau of Economic Research web site.</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Ökonometrisches Modell</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Foreign exchange rates</subfield><subfield code="x">Econometric models</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Monetary policy</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Sutherland, Alan</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="776" ind1="0" ind2="8"><subfield code="i">Erscheint auch als</subfield><subfield code="n">Online-Ausgabe</subfield></datafield><datafield tag="830" ind1=" " ind2="0"><subfield code="a">National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series</subfield><subfield code="v">11092</subfield><subfield code="w">(DE-604)BV002801238</subfield><subfield code="9">11092</subfield></datafield><datafield tag="856" ind1="4" ind2="1"><subfield code="u">http://papers.nber.org/papers/w11092.pdf</subfield><subfield code="z">kostenfrei</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="999" ind1=" " ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-013215035</subfield></datafield></record></collection> |
| id | DE-604.BV019891023 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T20:08:31Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-013215035 |
| oclc_num | 57702901 |
| open_access_boolean | 1 |
| owner | DE-703 DE-521 DE-19 DE-BY-UBM |
| owner_facet | DE-703 DE-521 DE-19 DE-BY-UBM |
| physical | 22, [5] S. graph. Darst. |
| publishDate | 2005 |
| publishDateSearch | 2005 |
| publishDateSort | 2005 |
| publisher | National Bureau of Economic Research |
| record_format | marc |
| series | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| series2 | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| spelling | Senay, Özge 1970- Verfasser (DE-588)129196886 aut Can endogenous changes in price flexibility alter the relative welfare performance of exchange rate regimes? Ozge Senay ; Alan Sutherland Cambridge, Mass. National Bureau of Economic Research 2005 22, [5] S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 11092 "A dynamic general equilibrium model of a small open economy is presented where agents may choose the frequency of price changes. A fixed exchange rate is compared to inflation targeting and money targeting. A fixed rate generates more price flexibility than the other regimes when the expenditure switching effect is relatively weak, while money targeting generates more flexibility when the expenditure switching effect is strong. These endogenous changes in price flexibility can lead to changes in the welfare performance of regimes. But, for the model calibration considered here, the extra price flexibility generated by a peg does not compensate for the loss of monetary independence. Inflation targeting yields the highest welfare level despite generating the least priceflexibility of the three regimes considered"--National Bureau of Economic Research web site. Ökonometrisches Modell Foreign exchange rates Econometric models Monetary policy Sutherland, Alan Verfasser aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 11092 (DE-604)BV002801238 11092 http://papers.nber.org/papers/w11092.pdf kostenfrei Volltext |
| spellingShingle | Senay, Özge 1970- Sutherland, Alan Can endogenous changes in price flexibility alter the relative welfare performance of exchange rate regimes? National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series Ökonometrisches Modell Foreign exchange rates Econometric models Monetary policy |
| title | Can endogenous changes in price flexibility alter the relative welfare performance of exchange rate regimes? |
| title_auth | Can endogenous changes in price flexibility alter the relative welfare performance of exchange rate regimes? |
| title_exact_search | Can endogenous changes in price flexibility alter the relative welfare performance of exchange rate regimes? |
| title_full | Can endogenous changes in price flexibility alter the relative welfare performance of exchange rate regimes? Ozge Senay ; Alan Sutherland |
| title_fullStr | Can endogenous changes in price flexibility alter the relative welfare performance of exchange rate regimes? Ozge Senay ; Alan Sutherland |
| title_full_unstemmed | Can endogenous changes in price flexibility alter the relative welfare performance of exchange rate regimes? Ozge Senay ; Alan Sutherland |
| title_short | Can endogenous changes in price flexibility alter the relative welfare performance of exchange rate regimes? |
| title_sort | can endogenous changes in price flexibility alter the relative welfare performance of exchange rate regimes |
| topic | Ökonometrisches Modell Foreign exchange rates Econometric models Monetary policy |
| topic_facet | Ökonometrisches Modell Foreign exchange rates Econometric models Monetary policy |
| url | http://papers.nber.org/papers/w11092.pdf |
| volume_link | (DE-604)BV002801238 |
| work_keys_str_mv | AT senayozge canendogenouschangesinpriceflexibilityaltertherelativewelfareperformanceofexchangerateregimes AT sutherlandalan canendogenouschangesinpriceflexibilityaltertherelativewelfareperformanceofexchangerateregimes |