Bibliographic Information

Open economy dynamics

Michael Carlberg

(Contributions to economics)

Physica-Verlag , Springer-Verlag, c1993

  • : gw
  • : us

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Note

Includes bibliographical references

Description and Table of Contents

Description

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 Schafer and Johannes Hackmann. In addition, Daphni-Marina Papadopoulou and Christine Schafer-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.

Table of Contents

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

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Details

  • NCID
    BA21014991
  • ISBN
    • 3790807087
    • 0387914560
  • Country Code
    gw
  • Title Language Code
    eng
  • Text Language Code
    eng
  • Place of Publication
    Heidelberg,New York
  • Pages/Volumes
    ix, 203 p.
  • Size
    24 cm
  • Parent Bibliography ID
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