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Article: Openness and the Output-Inflation Tradeoff: Floating vs. Fixed Exchange Rates

TitleOpenness and the Output-Inflation Tradeoff: Floating vs. Fixed Exchange Rates
Authors
Issue Date2002
PublisherRoutledge. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/10168737.asp
Citation
International Economic Journal, 2002, v. 16 n. 4, p. 1-26 How to Cite?
AbstractThe paper is an attempt to understand how globalization (in the form of opening up an otherwise closed economy to commodity trade and foreign investment) would interact with the exchange rate regime chosen by a small open economy to determine its output-inflation tradeoff. Based on the stochastic dynamic Mundell-Fleming model, our theory suggests that, under “normal” circumstances, the Phillips curve would be flatter under a fixed exchange rate regime. We also provide some empirical support based on Hong Kong data. [E3; F3]
Persistent Identifierhttp://hdl.handle.net/10722/85626
ISSN
2015 SCImago Journal Rankings: 0.187

 

DC FieldValueLanguage
dc.contributor.authorYuen, CWen_HK
dc.date.accessioned2010-09-06T09:07:19Z-
dc.date.available2010-09-06T09:07:19Z-
dc.date.issued2002en_HK
dc.identifier.citationInternational Economic Journal, 2002, v. 16 n. 4, p. 1-26en_HK
dc.identifier.issn1016-8737en_HK
dc.identifier.urihttp://hdl.handle.net/10722/85626-
dc.description.abstractThe paper is an attempt to understand how globalization (in the form of opening up an otherwise closed economy to commodity trade and foreign investment) would interact with the exchange rate regime chosen by a small open economy to determine its output-inflation tradeoff. Based on the stochastic dynamic Mundell-Fleming model, our theory suggests that, under “normal” circumstances, the Phillips curve would be flatter under a fixed exchange rate regime. We also provide some empirical support based on Hong Kong data. [E3; F3]-
dc.languageengen_HK
dc.publisherRoutledge. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/10168737.aspen_HK
dc.relation.ispartofInternational Economic Journalen_HK
dc.titleOpenness and the Output-Inflation Tradeoff: Floating vs. Fixed Exchange Ratesen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=1016-8737&volume=16&spage=1&epage=26&date=2002&atitle=Openness+and+the+Output-Inflation+Tradeoff:+Floating+vs.+Fixed+Exchange+Ratesen_HK
dc.identifier.emailYuen, CW: cwyuen@hku.hken_HK
dc.identifier.authorityYuen, CW=rp01123en_HK
dc.description.naturepostprint-
dc.identifier.hkuros80305en_HK
dc.identifier.volume16-
dc.identifier.issue4-
dc.identifier.spage1-
dc.identifier.epage26-
dc.publisher.placeUnited Kingdom-

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