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Article: Openness and the Output-Inflation Tradeoff: Floating vs. Fixed Exchange Rates
Title | Openness and the Output-Inflation Tradeoff: Floating vs. Fixed Exchange Rates |
---|---|
Authors | |
Issue Date | 2002 |
Publisher | Routledge. 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? |
Abstract | The 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 Identifier | http://hdl.handle.net/10722/85626 |
ISSN | 2023 Impact Factor: 0.9 2023 SCImago Journal Rankings: 0.292 |
DC Field | Value | Language |
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dc.contributor.author | Yuen, CW | en_HK |
dc.date.accessioned | 2010-09-06T09:07:19Z | - |
dc.date.available | 2010-09-06T09:07:19Z | - |
dc.date.issued | 2002 | en_HK |
dc.identifier.citation | International Economic Journal, 2002, v. 16 n. 4, p. 1-26 | en_HK |
dc.identifier.issn | 1016-8737 | en_HK |
dc.identifier.uri | http://hdl.handle.net/10722/85626 | - |
dc.description.abstract | The 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.language | eng | en_HK |
dc.publisher | Routledge. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/10168737.asp | en_HK |
dc.relation.ispartof | International Economic Journal | en_HK |
dc.title | Openness and the Output-Inflation Tradeoff: Floating vs. Fixed Exchange Rates | en_HK |
dc.type | Article | en_HK |
dc.identifier.openurl | http://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+Rates | en_HK |
dc.identifier.email | Yuen, CW: cwyuen@hku.hk | en_HK |
dc.identifier.authority | Yuen, CW=rp01123 | en_HK |
dc.description.nature | postprint | - |
dc.identifier.hkuros | 80305 | en_HK |
dc.identifier.volume | 16 | - |
dc.identifier.issue | 4 | - |
dc.identifier.spage | 1 | - |
dc.identifier.epage | 26 | - |
dc.publisher.place | United Kingdom | - |
dc.identifier.issnl | 1016-8737 | - |