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標題: | 開放經濟體下央行最適貨幣政策決策-以兩國賽局分析為例 Optimal Central Bank Monetary Policy in an Open Economy-A Two-Country Game Theory Analysis |
作者: | Chi-Hua Lee 李奇樺 |
指導教授: | 唐代彪(De-Piao Tang) |
關鍵字: | 開放經濟,量化寬鬆貨幣政策,央行目標,賽局, Open Economy,Quantitative Easing Policy,Central Bank Target Function,Game Theory, |
出版年 : | 2014 |
學位: | 碩士 |
摘要: | 本研究主要在探討在開放經濟體下,不同經濟體的央行所採行量化寬鬆政策的決策。首先,本研究討論在封閉單一經濟體下央行考量通貨膨脹率、失業率及勞動生產力下,最適的量化寬鬆貨幣政策決策,以作為開放經濟體研究的基礎;接續討論開放經濟體下,考量通貨膨脹率、失業率、勞動生產力及經濟開放程度,並採行賽局理論,探討不同經濟體央行所需採行的量化寬鬆貨幣政策。本研究結果顯示,在Nash賽局下,如兩國相關外生變數均一致的情況下,兩國央行應會採行相同的量化寬鬆貨幣政策,方得以因應本國的需求及來自另一國的影響。 This paper will discuss that under an open economic system, the decision making behind the Quantitative Easing Monetary Policy (QE) adopted by the central banks at different economies. First, the paper discussed that under a closed economic system, the central bank will take the following measures: inflation, unemployment and productivity as a consideration for adopting an optimal QE Policy as the economy transits to a free market economy. Second, the paper discussed that under an open economic system, the central bank will take inflation, unemployment, productivity and the degree of openness to trade as measures, and by using the Game Theory, the ideal QE policy that needs to be adopted by the central banks at different economies. The paper concluded that under Nash equilibrium, if Exogenous Variable of two economies remains the same, both central banks will adopt the same approach to QE Policy to stimulate the demand of domestic economy and prevent from the effect of the other economies. |
URI: | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/58667 |
全文授權: | 有償授權 |
顯示於系所單位: | 國家發展研究所 |
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