Arbeitspapier
Firm turnover in the export market and the case for fixed exchange rate regime
This paper revisits the case for flexible vs. fixed exchange rate regime in a two-country model with firm heterogeneity and nominal wage rigidity under incomplete financial markets. Dampening nominal exchange rate fluctuations simultaneously stabilizes the firm turnover in the export market. When firms are homogeneous and low productive, the fixed exchange rate regime dominates the flexible one because it reduces the fluctuations in labor demand arising from entry and exit of exporters following a demand shock. We also show that an alternative regulation policy in the export market does not rule out the possible adoption of a managed floating regime.
- ISBN
-
978-952-323-309-6
- Sprache
-
Englisch
- Erschienen in
-
Series: Bank of Finland Research Discussion Papers ; No. 1/2020
- Klassifikation
-
Wirtschaft
Current Account Adjustment; Short-term Capital Movements
Open Economy Macroeconomics
Money and Interest Rates: General
- Thema
-
monetary policy
exchange rate regime
firm heterogeneity
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Hamano, Masashige
Pappadà, Francesco
- Ereignis
-
Veröffentlichung
- (wer)
-
Bank of Finland
- (wo)
-
Helsinki
- (wann)
-
2020
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Hamano, Masashige
- Pappadà, Francesco
- Bank of Finland
Entstanden
- 2020
Ähnliche Objekte (12)
If the markka floated: Simulating the BOF4 model with fixed and floating exchange rates
Firm growth: Adjustment and fluctuations
Rational exchange rate and price expectations under different exchange rate regimes in Finland
Exchange rates and import prices in Finland: estimation of exchange rate pass-through
Fixed rate tenders and the overnight money market equilibrium
Floating exchange rates and capital mobility
Exchange rates in european monetary integration
The History of Exchange Control in Finland
Measuring exchange market pressure and central bank intervention
The equilibrium exchange rate for the Finnish Markka
Fixed rate loan contracts, maturity transformation and competition in the deposit market
Bidding in fixed rate tenders: Theory and experience with the ECB tenders
If the markka floated: Simulating the BOF4 model with fixed and floating exchange rates
Firm growth: Adjustment and fluctuations
Rational exchange rate and price expectations under different exchange rate regimes in Finland
Exchange rates and import prices in Finland: estimation of exchange rate pass-through
Fixed rate tenders and the overnight money market equilibrium
Floating exchange rates and capital mobility
Exchange rates in european monetary integration
The History of Exchange Control in Finland
Measuring exchange market pressure and central bank intervention
The equilibrium exchange rate for the Finnish Markka
Fixed rate loan contracts, maturity transformation and competition in the deposit market
Bidding in fixed rate tenders: Theory and experience with the ECB tenders
If the markka floated: Simulating the BOF4 model with fixed and floating exchange rates
Firm growth: Adjustment and fluctuations
Rational exchange rate and price expectations under different exchange rate regimes in Finland
Exchange rates and import prices in Finland: estimation of exchange rate pass-through
Fixed rate tenders and the overnight money market equilibrium
Floating exchange rates and capital mobility
Exchange rates in european monetary integration
The History of Exchange Control in Finland
Measuring exchange market pressure and central bank intervention
The equilibrium exchange rate for the Finnish Markka
Fixed rate loan contracts, maturity transformation and competition in the deposit market