The emerging global financial architecture and exchange rate regimes in a volatile world |
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| Authors: | Joã o Ricardo Faria,André Varella Mollick,Adolfo Sachsida,Le Wang |
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| Affiliation: | aMPA Program, University of Texas at El Paso, USA;bDepartment of Economics and Finance, University of Texas Pan-American, USA;cIPEA, Brasília, Brazil;dDepartment of Economics, University of New Hampshire, USA |
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| Abstract: | Previous work has documented inflation effects on Tobin's q in the long run. This paper examines whether the FED's different policies and chairmen tenure have an impact on Tobin's q, after a modified stylized AD-AS model shows that central banks affect q. We do find changing responses of q depending on the pre-Volcker and post-Volcker periods. |
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| Keywords: | JEL classification: E31 E44 E58 |
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