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sidenav header background[10月20日]新结构经济学&国际经济学workshop
发布日期：2016-10-18 02:56 来源：北京大学国家发展研究院
时间：2016年10月20日上午10:30-12:00
地点：艺园三层会议室
主持人：余淼杰、余昌华、徐佳君、王歆、王勇
主讲人：Jenny Xu (HKUST)
Topic: Local Currency Pricing and International Tax Policies
Abstract： The international macroeconomics literature show that, in the presence of local currency pricing, optimal monetary policy is not able to replicate the flexible price equilibrium. This paper explores if the combination of international tax policy and monetary policy can replace the role of exchange rates in such kind of economy. We show that under pricing to market, a state-contingent tax policy combination of consumption tax (subsidy) and export subsidy (tax) can fully mimic the response of exchange rates to adjust relative prices to country-specific productivity shocks and achieve the flexible price allocation. This arrangement, however, requires international policy coordination, and it cannot be an equilibrium outcome to international tax game without any restriction. These conclusions hold for both the static and the dynamic model with staggered price setting. Furthermore, in the dynamic model the international consumption tax can also correct the currency misallignments and thus central banks should again target producer-price inflation.
Speaker: Professor Juanyi (Jenny) Xu graduated from Zhejiang University with a B.Sc in Economics in 1996. In 2005 she got her Ph.D in Economics from University of British Columbia in Vancouver, Canada. Before she joined HKUST Department of Economics in 2006, she worked in Simon Fraser University shortly. She is now an Associate Professor in HKUST. Professor Xu maintains an active research program on international macroeconomics and monetary economics. Her research has been focused on the analysis of the optimal monetary policy in open economies, especially for emerging market economies and the study of dollarization and its implication for international monetary policy and transmission of shocks. She is also interested in explaining the real exchange rate dynamics change and the international business cycle in China and other emerging market economies. Her works are published in Economic Journal, Journal of International Economics, and Journal of Development Economics. She has worked as a research fellow in Hong Kong Institute of Monetary Research.
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首页
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教学项目展开 / 收起
sidenav background教学项目
sidenav header background[10月20日]新结构经济学&国际经济学workshop
发布日期：2016-10-18 02:56 来源：北京大学国家发展研究院
时间：2016年10月20日上午10:30-12:00
地点：艺园三层会议室
主持人：余淼杰、余昌华、徐佳君、王歆、王勇
主讲人：Jenny Xu (HKUST)
Topic: Local Currency Pricing and International Tax Policies
Abstract： The international macroeconomics literature show that, in the presence of local currency pricing, optimal monetary policy is not able to replicate the flexible price equilibrium. This paper explores if the combination of international tax policy and monetary policy can replace the role of exchange rates in such kind of economy. We show that under pricing to market, a state-contingent tax policy combination of consumption tax (subsidy) and export subsidy (tax) can fully mimic the response of exchange rates to adjust relative prices to country-specific productivity shocks and achieve the flexible price allocation. This arrangement, however, requires international policy coordination, and it cannot be an equilibrium outcome to international tax game without any restriction. These conclusions hold for both the static and the dynamic model with staggered price setting. Furthermore, in the dynamic model the international consumption tax can also correct the currency misallignments and thus central banks should again target producer-price inflation.
Speaker: Professor Juanyi (Jenny) Xu graduated from Zhejiang University with a B.Sc in Economics in 1996. In 2005 she got her Ph.D in Economics from University of British Columbia in Vancouver, Canada. Before she joined HKUST Department of Economics in 2006, she worked in Simon Fraser University shortly. She is now an Associate Professor in HKUST. Professor Xu maintains an active research program on international macroeconomics and monetary economics. Her research has been focused on the analysis of the optimal monetary policy in open economies, especially for emerging market economies and the study of dollarization and its implication for international monetary policy and transmission of shocks. She is also interested in explaining the real exchange rate dynamics change and the international business cycle in China and other emerging market economies. Her works are published in Economic Journal, Journal of International Economics, and Journal of Development Economics. She has worked as a research fellow in Hong Kong Institute of Monetary Research.
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