Monetary basis of trade imbalance
Küçük Resim Yok
Tarih
2000
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
The purpose of this paper is to lay simple yet elegant, formal microeconomic foundations for the theory that monetary policy is a principal determinant of international trade imbalance. Foreign exchange is a different form of real liquidity, not a perfect substitute for domestic currency. As a result, foreign money is traded as a commodity in exchange for consumption goods. If the monetary policies of two countries differ, a permanently unbalanced flow of goods may arise. Specifically, this paper argues that a high-inflation regime is likely to induce a perpetual trade deficit. © 2000 International Atlantic Economic Society.
Açıklama
Anahtar Kelimeler
Kaynak
Atlantic Economic Journal
WoS Q Değeri
Scopus Q Değeri
Q4
Cilt
28
Sayı
4
