Title page for etd-0627115-210832


[Back to Results | New Search]

URN etd-0627115-210832
Author Hong-xiong Zhang
Author's Email Address hongxiong01@gmail.com
Statistics This thesis had been viewed 5537 times. Download 610 times.
Department Economics
Year 2014
Semester 2
Degree Master
Type of Document
Language zh-TW.Big5 Chinese
Title Currency Substitution and Inflation Hedges: 
A Portfolio Balance Approach
Date of Defense 2015-07-27
Page Count 38
Keyword
  • monetary growth
  • crawling peg policy
  • inflation hedges
  • currency substitution
  • Abstract Based on the Calvo and Rodriguez (1977) model featuring portfolio balance framework, this paper deals with currency substitution and inflation hedges in an open sized economy. We draw attention to the asset substitutability and the relative qualities of various assets as hedges against inflation in both crawling peg policy and flexible exchange rate policy. Under crawling peg policy, a reduction in the rate of depreciation will lead the residents decrease their amount of domestic currencies and increase their amount of foreign currencies and inflation hedges. When under flexible exchange rate policy, if the central bank would let the monetary supply to continually increase, the residents will decrease their amount of domestic currencies and increase their amount of foreign currencies and inflation hedges.
    Advisory Committee
  • Shih-Wen Hu - chair
  • Shul-John Li - co-chair
  • Ching-Chong Lai - advisor
  • Files
  • etd-0627115-210832.pdf
  • indicate access worldwide
    Date of Submission 2015-07-28

    [Back to Results | New Search]


    Browse | Search All Available ETDs

    If you have more questions or technical problems, please contact eThesys