Twin deficit and capital mobility under different monetary policy regimes

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dc.contributor.authorOpoku, Frank
dc.contributor.authorUniversity of Lethbridge. Faculty of Arts and Science
dc.contributor.supervisorRockerbie, Duane
dc.date.accessioned2017-07-20T17:30:42Z
dc.date.available2017-07-20T17:30:42Z
dc.date.issued2017
dc.degree.levelMastersen_US
dc.description.abstractThe relationship between the government budget and the current account deficits has been explained to depend on the degree of capital mobility, exchange rate regimes and other important factors. One factor that has not received much attention is how different monetary policy regimes may affect the relationship through their effects on the transmission mechanism between the two deficits. We consider the theoretical bases for analyzing the twin deficit hypothesis within an IS-MP model as an alternative to the conventional IS-LM-BP model and the predictions of the models are tested using empirical data. Using, Canada, the U.K. and the U.S., we found that rules-based monetary policy, particularly inflation targeting, improves capital mobility and changes the relationship between the government budget deficit and the current account deficit. The changes however, we identify to be dependent on how well the policy rule is able to control the effects of inflation expectations.en_US
dc.description.sponsorshipSchool of Graduate Studies, University of Lethbridgeen_US
dc.embargoNoen_US
dc.identifier.urihttps://hdl.handle.net/10133/4883
dc.language.isoen_USen_US
dc.proquest.subject0501en_US
dc.proquest.subject0511en_US
dc.proquestyesYesen_US
dc.publisherLethbridge, Alta : University of Lethbridge, Dept. of Economicsen_US
dc.publisher.departmentDepartment of Economicsen_US
dc.publisher.facultyArts and Scienceen_US
dc.relation.ispartofseriesThesis (University of Lethbridge. Faculty of Arts and Science)en_US
dc.subjectbudget deficiten_US
dc.subjectcapital mobilityen_US
dc.subjectcurrent account balanceen_US
dc.subjectinflation targetingen_US
dc.subjectmonetary policyen_US
dc.subjecttwin deficit hypothesisen_US
dc.titleTwin deficit and capital mobility under different monetary policy regimesen_US
dc.typeThesisen_US
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