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    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/83088


    Title: 美元化的福利效果與成本之探討
    Authors: 林靜儀
    Contributors: 林柏生
    林靜儀
    Keywords: 美元化
    Date: 2000
    Issue Date: 2016-03-30 17:45:52 (UTC+8)
    Abstract: 本文主要承續Lamdany與Dorlhiac (1987)的模型架構,以效用極大化的模型,探討美元化對個人福利的影響。然而為了能以此模型繼續探討美元化的成本,本文將政府以發行債券來融通政府赤字的預算限制式加入該模型中。在此美元化的定義為一國放棄本國貨幣而採用美元作為法定貨幣。在本文的模型中,美元化具有以下兩種效果:1.流動性水準的下降,2.通貨膨脹率的下降或消失。在短期,由於消費與實質餘額的下降,美元化對個人的福利效果是負的。在長期下,由於通貨膨脹率下降,在新的恆定狀態,消費水準不變而流動性增加,個人的效用因此上升。若美元化的同時亦帶來了資本帳的開放,則最後對效用的影響必須視美元化後所造成的實質餘額增加是否超過資本開放後的外國借貸水準而定。本文的第三章則以上述之基本模型討論美元化的主要成本。鑄幣稅的損失可以透過兩國的協商,減輕本國損失,使得兩國的福利皆能上升。而以貨幣政策融通政府支出的增加,對代表性個人的效用影響比採取增加課稅還大,但是美元化後貨幣政策消失將使得政府失去一項融通的工具。最後,最終借貸者的功能消失則可以鑄幣稅分享的協商和與國際銀行聯繫來替代此項功能。
    Reference: Barro, R. J. 1979 . “ On the Determination of the Public Debt,” Journal of Political Economy, 87: 940-971
    Calvo, G. A., and C. A. Rodriguez. 1977. “ A Model of Exchange Rate Determination under Currency Substitution and Rational Expectations” Journal of Political Economy 85: 617-25
    Calvo. G. A. 1985. “ Currency Substitution and the Real Exchange Rate: The Utility Maximization Approach.” Journal of International Money and Finance 4: 175-88
    Calvo, G. A. 1999. “ On Dollarization,” mimeo, University of Maryland, April.
    Calvo, G. A. 1999. “ Testimony on Full Dollarization,” mimeo, University of Maryland, April.
    Calvo, G. A. 2000. “ Capital Markets and the Exchange Rate---With Special Reference to the Dollarization Debate in Latin America,” mimeo, University of Maryland, February.
    Christophere A. Sims 1999. “Fiscal Consequences for Mexico of Adopting the Dollar” working paper.
    Fischer, S. 1982. “ Seigniorage and the Case for a National Money.” Journal of Political Economy 2, 295-313
    Liviatan, Nissan. 1981. “Monetary Expansion and Real Exchange Rate Dynamics.” Journal of Political Economy, Vol 89, 1218-27
    Pablo E. Guidotti, and C. A. Rodriguez 1992. “ Dollarization in Latin America—Cresham’s Law in Reverse?” International Monetary Fund Staff paper Vol 39, No. 3.
    Ruben Lamdany and Jorge Dorlhiac 1987. “ The Dollarization of a Small Economy” Scandinavian Journal of Economics 89 ,91-102
    Description: 碩士
    國立政治大學
    國際經營與貿易學系
    87351037
    Source URI: http://thesis.lib.nccu.edu.tw/record/#A2002002048
    Data Type: thesis
    Appears in Collections:[國際經營與貿易學系 ] 學位論文

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