宏观经济学：Explain why monetary policy is ineffective under fixed exchange rates?

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宏观经济学：Explain why monetary policy is ineffective under fixed exchange rates?
宏观经济学：Explain why monetary policy is ineffective under fixed exchange rates?

宏观经济学：Explain why monetary policy is ineffective under fixed exchange rates?
The interest rate is the monetary policy.
If the government want to control inflation, the interest rate is raised, the market would correctly predict the results becasue the exchange rates are fixed. So people will deposit more local currency, and more foreign currency would flow to this country. The output would decrease. As a result, the domatic prices would raise. So the monetary policy is ineffective.

这句话正确需要有个前提：资本完全自由流动。因为在固定汇率的情况下，如果一国提高本国的利率，使之大于世界利率，那么就存在套利空间，国外资本就会流入国内市场，使得国内利率下降，直到两者利率相等为止，所以货币政策也就失效了。

您的问题很简单。呵呵。百度知道很高兴帮助您解决您提出的问题。
原句：Explain why monetary policy is ineffective under fixed exchange rates？
翻译：解释为什么货币政策在固定汇率下是无效的
百度知道永远给您最专业的英语翻译。

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