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| Title: | 開放性、犧牲比率與通貨膨脹：工具變數分量迴歸模型之應用
Openness, sacrifice ratio, and inflation: application of instrumental variable quantile regression |
| Authors: | 侯俊宇
Hou, Jun Yu |
| Contributors: | 林馨怡
Lin, Hsin Yi
侯俊宇
Hou, Jun Yu |
| Keywords: | 通貨膨脹
犧牲比率
開放性
分量迴歸
內生性
追蹤資料
Inflation
Sacrifiece Ratio
Openness
Quantile Regression
Endogeneity
Panel Data |
| Date: | 2009 |
| Issue Date: | 2013-09-05 14:19:18 (UTC+8) |
| Abstract: | 開放性與通貨膨脹之間的關係一直是總體經濟學中重要的議題。Romer (1993) 使用 Kydland and Prescott (1977) 和 Barro and Gordan (1983) 的模型進行分析，發現開放性增加會使的降低背離法則的誘因。本篇論文使用 Galvao (2008), Galvao and Montes-Rojas (2009), 和 Harding and Lamarche (2009) 的追蹤資料工具變數分量回歸模型進行分析，同時也以實證分析開放性和犧牲比率之間的關係。在考慮的開放性的內生性之後，我們發現在通膨越高的國家其開放性的影響越大，動態不一致性也越嚴重。
The relationship between openness and inflation is an important issue in macroeconomics. Romer (1993) uses the models of Kydland and Prescott (1977) and Barro and Gordan (1983) to argue that greater openness will reduce the policymakers` incentive to deviate from the rule. Cukierman, Webb, and Neyapti (1992) and Romer (1993) have an idea that countries with less political stability have a higher probability to violate the pre-committed monetary policies. In addition, as proposed by Romer (1993), the openness may be endogenous when analyzing the relationship between openness and inflation. Thus,
we apply instrumental variable quantile regression for panel data proposed by Galvao (2008), Galvao and Montes-Rojas (2009), and Harding and Lamarche (2009) to test whether or not the negative effects of openness is stronger when inflation is higher. We also do the empirical work between openness and the sacrifice ratio to test the mechanism that openness affects inflation established by Romer (1993). After dealing with the potential endogeneity of openness, we find that when the inflation is higher the negative effect of openness is stronger. As the argument of Romer (1993), our empirical results show that the time inconsistency problem is more serious in countries with higher inflation. But our empirical results show that the effect of openness on the sacrifice ratio is positive which is different from the mechanism established by Romer (1993). |
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| Description: | 碩士
國立政治大學
經濟學系
97258010
98 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0097258010 |
| Data Type: | thesis |
| Appears in Collections: | [經濟學系] 學位論文
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