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Liability dollarization and fear of floating
https://doi.org/10.20561/00037919
https://doi.org/10.20561/00037919996a1d26-3812-44f7-8cc9-ad2e16bef932
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
本文 (245.1 kB)
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| Item type | アジ研テクニカルレポート / IDE Technical Report(1) | |||||
|---|---|---|---|---|---|---|
| 公開日 | 2010-12-07 | |||||
| タイトル | ||||||
| タイトル | Liability dollarization and fear of floating | |||||
| 言語 | ||||||
| 言語 | eng | |||||
| 資源タイプ | ||||||
| 資源タイプ識別子 | http://purl.org/coar/resource_type/c_18gh | |||||
| 資源タイプ | technical report | |||||
| ID登録 | ||||||
| ID登録 | 10.20561/00037919 | |||||
| ID登録タイプ | JaLC | |||||
| 著者 |
Nguyen, Quoc Hung
× Nguyen, Quoc Hung |
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| 抄録 | ||||||
| 内容記述タイプ | Abstract | |||||
| 内容記述 | This paper explores the idea that fear of floating can be justified as an optimal discretionary monetary policy in a dollarized emerging economy. Specifically, I consider a small open economy in which intermediate goods importers borrow in foreign currency and face a credit constraint. In this economy, exchange rate depreciation not only worsens importers' net-worth but also increases the financing amount in domestic currency, therefore exaggerating their borrowing finance premium. Besides, because of high exchange rate pass-through into import prices, fluctuations in the exchange rate also have strong impacts on domestic prices and production. These effects, together, magnify the macroeconomic consequences of the floating exchange rate policy in response to external shocks. The paper shows that the floating exchange rate regime is dominated by the fixed exchange rate regime in the role of cushioning shocks and in welfare terms. | |||||
| 権利 | ||||||
| 権利情報 | Copyrights 日本貿易振興機構（ジェトロ）アジア経済研究所 / Institute of Developing Economies, Japan External Trade Organization (IDE-JETRO) http://www.ide.go.jp | |||||
| 収録情報 |
IDE Discussion Paper en : IDE Discussion Paper 巻 247, 発行日 2010-08 |
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| 出版者 | ||||||
| 出版者 | Institute of Developing Economies (IDE-JETRO) | |||||
| 著者版フラグ | ||||||
| 出版タイプ | VoR | |||||
| 出版タイプResource | http://purl.org/coar/version/c_970fb48d4fbd8a85 | |||||
| 日本十進分類法 | ||||||
| 主題Scheme | NDC | |||||
| 主題 | 338.953 | |||||
| JEL分類 | ||||||
| 主題Scheme | Other | |||||
| 主題 | JEL:F31 - Foreign Exchange | |||||
| 地域/国名 | ||||||
| 位置情報（自由記述） | 発展途上国 | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | Developing countries | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | Foreign exchange | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | Exchange control | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | Liability Dollarization | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | Fear of Floating | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | Imported Goods | |||||
| フォーマット | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | application/pdf | |||||
| DIG_NO | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | IDP000247_001 | |||||
