| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP185 |
| DP185 An Intertemporal Version of Mundell's Two-Country Flexible Exchange Rates Model with Disequilibrium Microfoundations: Is Policy Interdependence Inevitable? | |
| Neil Rankin | |
| 发表日期 | 1987-06-01 |
| 出版年 | 1987 |
| 语种 | 英语 |
| 摘要 | As a companion to a previous paper, monetary and fiscal policy are analyzed in (a) a small open economy and (b) a two-country world, where in addition to a fixed wage causing unemployment, countries now produce specialized products whose prices are fixed, causing excess supply. There are two periods, and perfect foresight. Markets clear in the second period. Exchange rates are flexible, and there is perfect capital mobility. Both monetary and fiscal policy raise domestic output whether the country is small or not, but do not affect foreign output or interest rates. Flexible exchange rates thus recover their "insulating" properties. |
| 主题 | International Macroeconomics |
| 关键词 | Disequilibrium Exchange rates Fiscal policy Labour markets monetary policy Open economy Policy interdependence |
| URL | https://cepr.org/publications/dp185 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529344 |
| 推荐引用方式 GB/T 7714 | Neil Rankin. DP185 An Intertemporal Version of Mundell's Two-Country Flexible Exchange Rates Model with Disequilibrium Microfoundations: Is Policy Interdependence Inevitable?. 1987. |
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