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標題: 旅遊業市場干擾、旅遊財價格與匯率目標區
Tourism Market Disturbance, Tourism Price and the Exchange Rate Target Zone
作者: 戴孟宜
Meng-Yi Tai
Yang-Che Shih
Lee-Jung Lu
關鍵字: 匯率目標區;蜜月效果;旅遊業;Optimal Exchange Rate Target Zone;Honeymoon Effect;Tourism
Project: 應用經濟論叢, Issue 102, Page(s) 115-148

Under the assumption of free movement of capital, governments normally set up the exchange rate target zone via the fiscal policy when their economies facing the tourism market disturbance. This paper shows how the establishment of exchange rate target zone to affect the stability of the exchange rate and to raise the possibility of paying a larger volatility of tourism price to the economy. We found that whether the honeymoon effect from the exchange rate target zone exists depending on the relative magnitude of wealth effect. Moreover, under the situation of a larger wealth effect, the relative domestic tourism expenditure determines not only the existence of honeymoon effect, but also the stabilities of the exchange rate and tourism price. In contrast to above situation, the exchange rate does exist the honeymoon effect when the relative wealth effect is smaller. Further, the stability of tourism price will be decided by the expected changes of both tourism price and exchange rate.
Appears in Collections:應用經濟論叢 第102期

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