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|Title: ||新台幣與均一定價理論背離: 台幣實質與名目匯率差異的成因|
The New Taiwan Dollar against The Law of One Price - On the Causes of Taiwan’s Real/Nominal Exchange Rate Spread
Lu, Ching Chih
New Taiwan Dollar
|Issue Date: ||2016-01-04 16:56:52 (UTC+8)|
Taiwan’s GDP and wages have remained steady for more than a decade, though the living standard continued to rise. This paradox is induced by the New Taiwan Dollar’s nominal and real exchange rates diverging, an anomaly amongst advanced economies. Investigating ongoing international economic integration, Taiwan’s monetary policy, political situation, and balance of payments unveils the underlying causality. Taiwan could not participate in the most recent wave of globalisation, insulating its price level. In combination with outgoing investments, reserves accumulation, and its traditional business culture and structure, this has created an area of inimitable low prices. In order to prevent distortionary long-term effects, Taiwan’s political situation needs to either be resolved, or separated from its economic capacity to act. Only then can Taiwan’s economic situation normalise and the real/nominal exchange rate spread fade, which implies an increase in nominal GDP and wages (measured in USD).
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|Source URI: ||http://thesis.lib.nccu.edu.tw/record/#G1029260321|
|Data Type: ||thesis|
|Appears in Collections:||[亞太研究英語博/碩士學位學程(IDAS/IMAS)] 學位論文|
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