返回Google圖書搜尋

Relative Price Volatility Under Sudden Stops

Guillermo A. CalvoAlejandro IzquierdoRudy Loo-Kung

其他書名	The Relevance of Balance Sheet Effects
出版	National Bureau of Economic Research, 2005
URL	http://books.google.com.hk/books?id=g0uyAAAAIAAJ&hl=&source=gbs_api

註釋"Sudden Stops are associated with increased volatility in relative prices. We introduce a model based on information acquisition to rationalize this increased volatility. An empirical analysis of the conditional variance of the wholesale price to consumer price ratio using panel ARCH techniques confirms the relevance of Sudden Stops and potential balance-sheet effects as key determinants of relative-price volatility, where balance-sheet effects are captured by the interaction of a proxy for potential changes in the real exchange rate (linked to the degree of external leverage of the absorption of tradable goods) and a measure of domestic liability dollarization"--NBER website