-
大陆成人直播
-
出版物展开 / 收起
sidenav background出版物
sidenav header background讨论稿No. E2014002：Fixed Exchange Rates, Real Undervaluation and Economic Growth
发布日期：2014-07-07 10:50 来源：大陆成人直播-成人直播中文
Fixed Exchange Rates, Real Undervaluation and Economic Growth
Rui Mao[1] Yang Yao[2]
No. E2014002 June 2014
Abstract: This note studies a mechanism for the fixed exchange rate regime (FERR) to promote economic growth. When the total factor productivity (TFP) grows faster in the industrial sector than in the service sector, the FERR dampens the Balassa-Samuelson effect by shutting down nominal exchange rate adjustment as a channel of real appreciation. This function is more pronounced when labor is redundant in the economy. With WDI data of sectoral value-added, we are able to estimate the sectoral relative TFP of industry and services and test these conclusions.
Keywords: Fixed exchange rate regime, real undervaluation, economic growth
JEL classification: F31, F43, O41
--------------------------------------------------------------------------------
[1]School of Management, Zhejiang University, email: [email protected].
[2]National School of Development and China Center for Economic Research, Peking University, email: [email protected].
全文下载 No.E2014002
大陆成人直播 官方微信
Copyright© 1994-2012 大陆成人直播-成人直播中文 版权所有, 京ICP备05065075号-1
保留所有权利，不经允许请勿挪用
-
大陆成人直播
-
出版物展开 / 收起
sidenav background出版物
sidenav header background讨论稿No. E2014002：Fixed Exchange Rates, Real Undervaluation and Economic Growth
发布日期：2014-07-07 10:50 来源：大陆成人直播-成人直播中文
Fixed Exchange Rates, Real Undervaluation and Economic Growth
Rui Mao[1] Yang Yao[2]
No. E2014002 June 2014
Abstract: This note studies a mechanism for the fixed exchange rate regime (FERR) to promote economic growth. When the total factor productivity (TFP) grows faster in the industrial sector than in the service sector, the FERR dampens the Balassa-Samuelson effect by shutting down nominal exchange rate adjustment as a channel of real appreciation. This function is more pronounced when labor is redundant in the economy. With WDI data of sectoral value-added, we are able to estimate the sectoral relative TFP of industry and services and test these conclusions.
Keywords: Fixed exchange rate regime, real undervaluation, economic growth
JEL classification: F31, F43, O41
--------------------------------------------------------------------------------
[1]School of Management, Zhejiang University, email: [email protected].
[2]National School of Development and China Center for Economic Research, Peking University, email: [email protected].
全文下载 No.E2014002
访问学者申请
EMAIL
北京大学
ENGLISH
