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    An analysis of the welfare implications of alternative exchange rate regimes: an intertemporal model with an application

    Sibert, Anne and Feltenstein, A. and Lebow, D. (1988) An analysis of the welfare implications of alternative exchange rate regimes: an intertemporal model with an application. Journal of Policy Modeling 10 (4), pp. 611-629. ISSN 0161-8938.

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    Abstract

    This paper develops a methodology for evaluating the short-run welfare implications of different exchange rate regimes. Heterogeneous, optimizing domestic consumers live for two periods, consume goods and leisure, supply labor, save home and foreign bonds, and demand currency. Firms maximize profits. The home government levies taxes, issues money and bonds and supplies public goods. The foreign country demands imports, supplies exports, and lends to the home country. The theoretical model is estimated for Australia. Counter-factual simulations are carried out. The results suggest that floating was, or would have been, the superior regime for the 1981–1984 period.

    Metadata

    Item Type: Article
    School: School of Business, Economics & Informatics > Economics, Mathematics and Statistics
    Depositing User: Sarah Hall
    Date Deposited: 04 Aug 2020 07:46
    Last Modified: 04 Aug 2020 07:46
    URI: https://eprints.bbk.ac.uk/id/eprint/32776

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