The Capitalization of Income Streams and the Effects of Open Market Policy under Fixed Exchange Rates
收藏NBER1980-08-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w0528
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资源简介：
This paper investigates the long- and short-run neutrality of open-market monetary policy in a world of fixed exchange rates and imperfect substitutability between bonds denominated in different currencies. Using an illustrative portfolio-balance model, it shows that when the public discounts the
提供机构：
美国国家经济研究局
创建时间：
1980-08-01
