What people are saying - Write a review
We haven't found any reviews in the usual places.
A Survey of the Literature
The Multicountry Simulation Model
5 other sections not shown
adaptive expectations adjustment alternative exchange asset demand asset markets assumed base distribution Branson capital mobility capital stock changes confidence intervals consumption current account imbalances current period depreciation disturbances in nations dynamic economic activity effects elasticity endogenous equilibrium levels exchange market intervention exchange rate determination exchange rate regime exchange regime choice expectations external disturbances f and g fiscal expansion fixed exchange rates fixed rates flexible exchange rates flexible rates foreign exchange market government expenditure holders in nation hypothesis initial interest rate investment io-i joint distribution literature long-run equilibrium loss measure market clearing market intervention rule monetary expansion money market money supply multicountry model nations f parameters partial currency union percent policy makers policy variables Price Forecast Error private wealth holders random disturbances rates are preferred real after-tax income real disturbances real income residents of nation sensitive short-run significantly small-country stochastic simulations three nations transactions demand