دانلود مقاله ISI انگلیسی شماره 93245
کد مقاله سال انتشار مقاله انگلیسی ترجمه فارسی تعداد کلمات
93245 2017 33 صفحه PDF سفارش دهید 8433 کلمه
خرید مقاله
پس از پرداخت، فوراً می توانید مقاله را دانلود فرمایید.
عنوان انگلیسی
A dynamic IS-LM-X model of exchange rate adjustments and movements
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : International Economics, Volume 149, May 2017, Pages 74-86

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چکیده انگلیسی

This paper contributes to the literature through developing a model of exchange rate adjustments in a dynamic IS-LM-X analytical framework. Our new model, in particular, a) makes the IS-LM model dynamic; b) endogenizes the exchange rate and price variables and; c) extends the dynamic IS and LM components into the external sector in an open economy that evolves over time. The effect of a change in monetary policy on the exchange rate is evaluated and the trajectory towards its new long-run equilibrium level is projected. These are in contrast to the traditional monetary models of exchange rate determination and adjustments that play primarily with the LM component of the IS-LM framework in discrete steps. Effects of interest rate parity and purchasing power parity are then scrutinized, ranging from the short-term to the long-run continuously. The study has profound policy implications, especially in an era of quantitative easing.

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