Study on the relationship between exchange rate regimes and international output co-movement

被引：0

作者：

Luo, DC ^{[1
]}

Wu, B ^{[1
]}

Han, XZ ^{[1
]}

机构：

[1] Shenyang Univ Technol, Sch Econ, Shenyang 110023, Peoples R China

来源：

PROCEEDINGS OF THE 2004 INTERNATIONAL CONFERENCE ON MANAGEMENT SCIENCE & ENGINEERING, VOLS 1 AND 2 | 2004年

关键词：

multivariate.co-integration tests; fixed exchange rate; flexible exchange rate;

D O I：

暂无

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

In this paper, with Johansen's (1988) multivariate co-integration testing procedure, we find a co-integrating vector between the outputs of five major industrialized nations during the fixed exchange rate period. However, this relationship breaks down for the flexible exchange rate era. The paper argues that the breakdown of monetary policy coordination caused by the abandonment of the fixed exchange rates explains the weakening of the international character of business cycles.

引用

页码：2064 / 2067

页数：4

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