Current issues in open economy macroeconomics: paradoxes, policies, and problems
"I am very happy to see a collection of papers like this, which uses standard methods of macro-dynamics and sensible down-to-earth models. Stephen J. Turnovsky, University of Washington, USK KOpen economy macroeconomics is a major focus of research interest stimulated in part by the increasing interdependence of the world economy and by the move towards floating exchange rates. This important new book addresses several central issues in the macroeconomic theory of different forms of open economies under differing degrees of dependency.
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Negation of the LaursenMetzler effect and its implications
Coordination commercial and stabilization policies under
Exchange rates forward rates domestic and Eurocurrency
3 other sections not shown
abroad aggregate demand analysis assume balance of payments capital controls Central Bank ceteris paribus commercial policy comparative statics consequent consumer price index contractionary deduce deficit devaluation domestic banks domestic currency domestic interest rate domestic output domestic price level East East-West model Eastern economic welfare elasticity endogenous equation Eurobanks Eurocurrency markets Eurodollar Eurosterling rate excess demand functions excess supply exchange markets expansionary expenditure exports fall fiscal expansion fiscal policy flexible exchange rates Ford-Sen effect foreign country foreign currency foreign exchange markets foreign output foreign price level forward premium given Hence home country impact imports income effect increase internal balance Jacobian Krugman Laursen-Metzler condition Laursen-Metzler effect macroeconomic Marshall-Lerner condition monetary policy money supply money wage Mundell Mundellian negative nominal wage rigidity non-traded optimum tariff perestroika positive production real income real wage resistance rise schedule sector small open economy steady-state terms of trade tradeable West whilst zero