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• W1976505964 abstract "The objective of the paper is to examine the relationship between exchange rate systems and incidence and effects of macroeconomic disturbances within the context of a simple aggregate supply/aggregate demand model. Using data from the Gold Standard, Bretton Woods, and the Modem Float and structural VARs, the paper tries to isolate supply shocks, real demand shocks, and monetary shocks. Comparing the performance of exchange rate systems, the paper finds a lower incidence of demand shocks under fixed rate systems which can be attributed to the limited discretion afforded by fixed rates. Moreover, there seems to be an increase over time in the effectiveness of real demand policies." @default.
• W1976505964 created "2016-06-24" @default.
• W1976505964 creator A5071441472 @default.
• W1976505964 date "1998-01-01" @default.
• W1976505964 modified "2023-10-17" @default.
• W1976505964 title "The incidence and effects of macroeconomic disturbances under alternative exchange rate systems: evidence since the classical gold standard" @default.
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• W1976505964 doi "https://doi.org/10.1016/s1059-0560(98)90042-9" @default.
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