Macroeconomic Analysis of Monetary Unions A General Framework Based on the Mundell-Fleming Model /
The book develops a general framework for the macroeconomic modeling of monetary unions. The starting point of the analysis is the standard two-country Mundell-Fleming model with perfect capital mobility, extended to incorporate the supply side in a context of rigid real wages, and modified so that...
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| Main Authors: | , |
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| Institution som forfatter: | |
| Format: | Electronisk eBog |
| Sprog: | English |
| Udgivet: |
Berlin, Heidelberg :
Springer Berlin Heidelberg : Imprint: Springer,
2011.
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| Udgivelse: | 1st ed. 2011. |
| Serier: | SpringerBriefs in Economics,
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| Fag: | |
| Online adgang: | https://doi.org/10.1007/978-3-642-19445-0 |
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| Summary: | The book develops a general framework for the macroeconomic modeling of monetary unions. The starting point of the analysis is the standard two-country Mundell-Fleming model with perfect capital mobility, extended to incorporate the supply side in a context of rigid real wages, and modified so that the money market is common for two countries forming a monetary union. The model is presented in two versions: for a small and a large monetary union, respectively. After solving each model, the authors derive multipliers for monetary, expenditure, supply, and external shocks, both in the short and the long run; a graphical analysis is also provided. Special attention is paid to the crucial distinction between symmetric and asymmetric shocks. |
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| Fysisk beskrivelse: | VII, 50 p. online resource. |
| ISBN: | 9783642194450 |
| ISSN: | 2191-5504 |