The Macroeconomics of Open Economies Under Labour MobilityThis work extends the theoretical literature in international macroeconomics by exploring the role of international labour mobility in the behaviour of open economies with flexible exchange rates. The book addresses five main issues: the implications of international labour mobility for national monetary autonomy; the consequences of international migration for the transmission of disturbances across countries; the role of international labour mobility in capital accumulation following unanticipated non-monetary shocks; the impact of international migration on the wage-setting processes of unionized economies; how international migration affects the outcomes of macroeconomic policy games between trade unions and policy-makers. |
Contents
International Mobility of Labour and Monetary Policy in a Small | 14 |
Transmission of Fiscal Disturbances Between Countries | 42 |
International Mobility of Labour Capital Accumulation | 65 |
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Other editions - View all
The Macroeconomics of Open Economies Under Labour Mobility George M Agiomirgianakis Limited preview - 2019 |
The Macroeconomics of Open Economies Under Labour Mobility George M Agiomirgianakis Limited preview - 2019 |
The Macroeconomics of Open Economies Under Labour Mobility George M. Agiomirgianakis No preview available - 2020 |
Common terms and phrases
aggregate demand analysis assume assumption bargained wage capital stock changes chapter consumer price index contract curve CPI inflation degree of IML demand for domestic demand for real domestic employment domestic output dynamic effective labour force employment level eP₁t equation exchange rate depreciation exogenous increase Figure foreign fiscal contraction higher home foreign home real consumption impact effects increase in PK indifference curves international labour mobility international migration isoprofit curve L₁ labour market long-run lower macroeconomic maintain equilibrium maximise migration cost migration outflows money supply negative nominal exchange rate nominal wage rate non-cooperative regime P₁ players policy-makers power locus presence of ILM presence of international rational expectations real bonds real consumption wage real exchange rate real interest rate real product wage real wage real wage differential reduce relative result short-run small open economy steady-state stock of real trade union U₁ unanticipated increase union membership variables workers