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Some macroeconomic issues under alternative exchange rate regimes (China, Japan, Korea, Singapore).

机译：替代汇率制度下的一些宏观经济问题（中国，日本，韩国，新加坡）。

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摘要

This dissertation examines some macroeconomic issues under alternative exchange rate regimes. Chapter I provides an overview of the dissertation. Chapter 2 investigates the inflation insulation properties of different exchange rate regimes in a small open economy setting. Specifically, it examines how inflation rates in two small open economies, namely Hong Kong and Singapore, with different exchange rate regimes, interact with those in the U.S. It is found that Hong Kong inflation rates are more responsive to US shocks than Singapore inflation rates. The different responses to U.S. shocks are consistent with the theoretical predictions of the differences in exchange rate regimes adopted by the two economies.; Chapter 3 looks at whether the Asian countries are suitable for a currency union and how their outputs will be affected in a currency union. The output cycles synchronization criterion is used to evaluate whether China, Japan, and Korea are suitable for a currency union. It is found that the countries' real per capita GDPs are moving together in the long- and short-run. According to the optimum currency areas theory, these findings imply the countries are suitable for a currency union. Then the chapter moves on to estimate these countries' output losses if they relinquish their individual monetary policies to form a currency union. The results indicate the output losses for these economies are small as a whole and are only moderate individually in the worst-case scenario.; The fourth chapter investigates the currency union effect on trade by examining how the European Monetary Union (EMU) affects trade. Current empirical research results on the currency union effect on trade are ambiguous. To investigate the EMU effect on trade, the chapter studies the bilateral trade dynamics of a group of OECD countries from 1988 to 2001. Since the EMU countries have been taking steps to further integrate their economies, the chapter also examines whether it is the one currency, or the deeper economic integration, or both that promote trade. The result indicates that the EMU, but not the further economic integration, promotes trade.
机译：本文研究了替代汇率制度下的一些宏观经济问题。第一章对论文进行了概述。第2章研究了在小型开放经济环境中不同汇率制度的通货膨胀绝缘性质。具体来说，它研究了汇率制度不同的两个小型开放经济体（香港和新加坡）的通货膨胀率如何与美国的通货膨胀率相互作用。研究发现，香港的通货膨胀率比新加坡的通货膨胀率对美国的冲击更为敏感。对美国冲击的不同反应与两个经济体所采用的汇率制度差异的理论预测是一致的；第三章探讨了亚洲国家是否适合建立货币联盟，以及它们在货币联盟中的产出将如何受到影响。输出周期同步标准用于评估中国，日本和韩国是否适合货币联盟。人们发现，从长远来看，这些国家的实际人均国内生产总值正在一起移动。根据最佳货币区理论，这些发现暗示这些国家适合建立货币联盟。然后，本章将继续估算这些国家如果放弃各自的货币政策以形成货币联盟，则会蒙受的产出损失。结果表明，这些经济体的整体损失较小，在最坏的情况下仅个别缓解。第四章通过研究欧洲货币联盟（EMU）如何影响贸易来研究货币联盟对贸易的影响。目前关于货币联盟对贸易影响的实证研究结果尚不明确。为了研究欧洲货币联盟对贸易的影响，本章研究了一组经合组织国家从1988年到2001年的双边贸易动态。由于欧洲货币联盟一直在采取步骤进一步整合其经济，因此本章还研究了它是否是一种货币，或更深的经济一体化，或两者都促进贸易。结果表明，欧洲货币联盟（而不是进一步的经济一体化）促进了贸易。

著录项

  • 作者

    Yuen, Jude Ngok Fung.;

  • 作者单位

    University of California, Santa Cruz.;

  • 授予单位 University of California, Santa Cruz.;
  • 学科 Economics General.; Economics Finance.
  • 学位 Ph.D.
  • 年度 2003
  • 页码 153 p.
  • 总页数 153
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类 经济学;财政、金融;
  • 关键词

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