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Money and Exchange Rates in the Grossman-Weiss-Rotemberg Model
Fernando Alvarez
Andrew Atkeson
出版
National Bureau of Economic Research
, 1996
URL
http://books.google.com.hk/books?id=X1ayAAAAIAAJ&hl=&source=gbs_api
註釋
We examine the impact of monetary injections in the Grossman-Weiss-Rotemberg Model and show that monetary shocks can lead to nominal exchange rates that are more volatile than inflation, money growth or interest rate differentials. Moreover, movements in real exchange rates following monetary injections can be persistent and nearly as large as movements in nominal exchange rates nominal exchange rates.
