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    请使用永久网址来引用或连结此文件: https://nccur.lib.nccu.edu.tw/handle/140.119/68737


    题名: Anticipated Policy and Endogenous Growth in a Small Open Monetary Economy
    作者: 蕭明福
    Shaw, Ming-Fu
    贡献者: 經濟系
    关键词: Announced credit growth;Endogenous growth;Small open economy
    日期: 2005-09
    上传时间: 2014-08-14 15:13:40 (UTC+8)
    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.
    關聯: Journal of International Money and Finance, 24(5), 719-743
    数据类型: article
    显示于类别:[經濟學系] 期刊論文

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