關稅與實質匯率動態

Tariffs and Real Exchange Rate Dynamics

10.6277/ter.2010.384.3

胡玫英(Mei-Ying Hu)；曹添旺(Tien-Wang Tsaur)

關稅 ； 通貨替代 ； 匯率動態 ； 局部不確定性 ； tariff ； currency substitution ； exchange rate dynamics ； locally indeterminacy

經濟論文叢刊

38卷4期（2010 / 12 / 01）

501 - 522

繁體中文

本文以一最適化之通貨替代模型爲架構，分析政府調降關稅對於經濟體系的長期衝擊效果及短期動態調整過程。我們的研究結果發現，調降關稅對於實質匯率、實質本國貨幣餘額及實質國外貨幣餘額的影響，必須視Marshall-Lerner條件成立與否及通貨替代程度高低而定。

This paper uses an optimal currency substitution model to consider the long-term effects and the short-term dynamic adjustments of real variables when the government reduces import tariffs. We find that the effect on the real exchange rate, real domestic money balances and real foreign money balances depends on the degree of currency substitution and whether the Marshall-Lerner condition is satisfied.

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