时间：2019年5月16日14:00-15:30
地点：南校区院系办公楼401室
报告人：陈顺源 教授 （加拿大McMaster大学讲座教授）
题目：Trilemma Redux : From Dilemma To Quadrilemma
主办单位：betway体育
内容介绍：In the literature, Rey (2015, 2016) argued that the Trilemma, the trade-off between Monetary Independence (MI), the Exchange Rate Stability (ERS) and the Open Capital Flows (KAOPEN) of emerging market economies (EMEs), would not hold under global financial shocks. She claimed that there is only the tradeoff between MI and KAOPEN, morphing the Trilemma into a Dilemma. This paper views the tradeoffs as a statistical ‘cointegrating’ relationship. The shaky/risky ERS should be adjusted under global financial shocks. With this adjustment, the Trilemma is partially restored: Strong cointegration exists between MI, the ‘adjusted’ ERS, and KAOPEN, for EMEs, with similar results for the advanced economies (excluding Eurozone countries). Moreover, the Trilemma variables cointegrate with global financial shocks. This paper also addresses the important issue of cross-sectional dependency in the residuals under global financial shocks, an issue largely ignored in this literature.
报告人简介：陈顺源教授，美国布朗大学经济学博士，现任加拿大麦克马斯特大学（McMaster University）荣誉讲座教授，历任麦克马斯特大学教授，香港城市大学商学院副经理，经济与金融系教授和系主任，以及中山大学和澳门大学客座教授，研究领域为经济发展，国际贸易与金融，中国经济，实验经济学等，有60多篇学术论文发表于国际知名SSCI经济学期刊，其中包括顶级期刊《American Economic Review》，《Quarterly Journal of Economics》，《Journal of International Economics》，《International Economic Journal》《Journal of Development Economics》和《Journal of Public Economics》等。曾任SSCI期刊《Pacific Economic Review》主编，现任《Review of International Economics》和《Review of Development Economics》编辑。
