基于不同汇率制度及资本开放度的美国经济冲击效应研究

发布时间：2018-04-30 20:33

本文选题：经济冲击 + 货币政策冲击　；参考：《商业研究》2014年08期

【摘要】：制度因素会对美国经济冲击及传导产生影响,本文把美国供给冲击、需求冲击和货币冲击纳入同一个分析框架,通过建立稳健性的计量模型探讨了美国经济冲击对东亚地区经济波动的影响,并结合东亚地区具体的汇率制度和资本开放度等因素进行了综合分析。研究发现固定汇率制度和中间汇率制度使美国货币政策加剧了对东亚地区经济波动的冲击,但浮动汇率制度下的美国货币冲击却能平抑东亚经济的波动;资本开放度对东亚经济的波动会产生滞后效应,滞后一期的资本开放度会加剧东亚地区的经济波动。
[Abstract]:Institutional factors will have an impact on the economic shock and transmission of the United States. In this paper, the supply shock, demand shock and monetary shock in the United States are included in the same analytical framework. Through the establishment of a robust econometric model, this paper probes into the impact of American economic shocks on the economic fluctuations in East Asia, and makes a comprehensive analysis of the factors such as the specific exchange rate regime and the degree of capital openness in East Asia. It is found that the fixed exchange rate system and the intermediate exchange rate system make the US monetary policy aggravate the impact on the East Asian economic fluctuations, but the American currency shock under the floating exchange rate system can stabilize the East Asian economic volatility. The capital openness will have a lag effect on the East Asian economic fluctuation, and the lagging capital openness will aggravate the East Asian economic fluctuation.
【作者单位】：五邑大学经济管理学院;暨南大学经济学院;
【基金】：广东省哲学社会科学规划项目“外部冲击对广东主导产业的非均衡性影响研究”,项目编号:GD13XYJ19
【分类号】：F831.6;F171.2;F224

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