Money Supply Announcements and Market Reactions in an Open Economy
构建了一个开放经济模型，分析货币供给公告对金融市场的反应，发现短期利率变动与意外高货币增长不一定正相关，这与美国经验不同，但符合英国和加拿大的实证结果。
An open economy model of the money supply announcement-financial market reaction phenomenon under policy anticipations is formulated, whose major divergence from earlier models is the prediction that short-term interest rate movements need not be positively correlated with unexpectedly high monetary growth. While at variance with the most consistent empirical regularity in the United States, this prediction in fact accords with previous empirical findings for both the United Kingdom and Canada. Copyright 1990 by Ohio State University Press.