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Open Economy Dynamics: Contributions to Economics

Autor Michael Carlberg
en Limba Engleză Paperback – 30 aug 1993
The focus is on the inter action between demand and supply in a small open economy featuring the dynamics of private capital, public debt and foreign assets. The overlapping generations model serves as a microfoundation. It proves useful to consider different scenarios. Exchange rates are either flexible or fixed. Money wages can be flexible, fixed or slow. Monetary and fiscal policy may be exogenous or endo­ genous. Either budget deficits are allowed, or continuous budget balance is postula­ ted. Wh at are the implications of various shocks? How does the chain of cause and effect look like? I had many helpful talks with my colleagues at Hamburg: Michael Schmid (now at Bamberg), Wolf Schäfer and Johannes Hackmann. In addition, Daphni-Marina Papadopoulou and Christine Schäfer-Lochte carefully discussed with me all parts of the manuscript. Last but not least, Doris Ehrich typed the manuscript as excellently as ever. I would like to thank all of them. CONTENTS INTRODUCTION 3 PART 1. FLEXIBLE EXCHANGE RATES 11 CHAPTER 1. BASIC MODEL 11 1. Flexible Money Wages 13 13 1. 1. Overlapping Generations 1. 2. Short-Run Equilibrium and Long-Run Equilibrium 23 1. 3. Stability 27 1. 4. Shoeks 30 2. Fixed Money Wages 34 34 2. 1. Overlapping Generations 2. 2. Short-Run Equilibrium and Long-Run Equilibrium 39 2. 3. Stability 41 2. 4. Shoeks 44 3. Slow Money Wages 52 3. 1. Special Case 1= 0 52 3. 2. General Case 60 4. Monetary Poliey 64 4. 1.
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Specificații

ISBN-13: 9783790807080
ISBN-10: 3790807087
Pagini: 216
Ilustrații: IX, 203 p.
Dimensiuni: 178 x 254 x 11 mm
Greutate: 0.38 kg
Ediția:1993
Editura: Physica-Verlag HD
Colecția Physica
Seria Contributions to Economics

Locul publicării:Heidelberg, Germany

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Research

Cuprins

Flexible Exchange Rates.- Basic Model.- Economy with Public Sector.- Fixed Exchange Rates.- Basic Model.- Economy with Public Sector.- Synopsis.- Synopsis.- Conclusion.- Conclusion.- Result.- Result.