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| Title: | 通貨膨脹對資本累積和貿易型態的影響--一個兩部門小型開放經濟 |
| Authors: | 鍾美芳
ZHONG, MEI-FANG |
| Contributors: | 林柏生
霍德明
LIN, BO-SHENG
HUO, DE-MING
鍾美芳
ZHONG, MEI-FANG |
| Keywords: | 通貨膨脹
資本
INFLATION
CAPITALIZATION |
| Date: | 1993
1992 |
| Issue Date: | 2016-05-02 15:14:02 (UTC+8) |
| Abstract: | International trade theory emphasizes the "real"factors. In standard models of international trade surveyed by Jones and Neary (1984), factor supplies play a key role in determining trade patterns. The pattern as well as the volume of trade is usually explained by the defference in comparative advantages. Through trade, countries can exploit these advantages and make more efficient use of resources. The determination of exchange rates is seen as the resoult of monetary policies in different countries. The distinction between trade and finace has been mitigated due to an important paper by Stockman (1985) who integrate a transactionsbased model of money with a real trade model. He analyzed the effect of inflation on international trade using a cash-in-adcance(CIA) model. In his setup, inflation depresses capital accumulation because the rate of return on investment is reduced. This"factor-supply"effect will cause the volume of trade to change. Since Stockman used a Heckscher- Ohlin-Samuelson model, it also follows that a small change in the rate of inflation may cause a dramatic change in domestic production, hence, the pattern of trade might be reversed completely. In this dessertation I shall point out another channel of how inflation affects the trade pattern and volume. I shall study the "demand-substitution"effect due the fact that the cash-in-advance constraint is applied to different sets of goods. When this is so, the CIA constraint impliesa higher opportunity cost of purchasing the constrained goods. Thus, the relative costs of goods under constraint in terms of the goods not under constraint will be subject to the influence of inflation, this is what I mean by "demand-substitution" effect. This dissertation is organized as follows. In section II we will survey the related literature. In section III we describe the model and the five different CIA constraints case, analyze the effect of unanticipated, anticipated and temporary monetary policy. In every case, comparative static exercise are performed. In section IV we make comparison between the three cases, followed by concluding remarks and possible extensions. |
| Reference: | References
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Stockman, A., 1981, "Anticipated inflation and capital stock in a cash-in-advance
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Stockman, A., 1985, "Effects of Inflation on the pattern of international
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Tobin, J., 1965, "Money and economic growth," Econometrica, 33, 671- 684. |
| Description: | 碩士
國立政治大學
國際經營與貿易學系 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#B2002004307 |
| Data Type: | thesis |
| Appears in Collections: | [國際經營與貿易學系 ] 學位論文
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