Macroeconomic Analysis of Monetary Unions / SpringerBriefs in Economics (PDF)
A General Framework Based on the Mundell-Fleming Model
(Sprache: Englisch)
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...
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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.
Autoren-Porträt von Oscar Bajo-Rubio, Carmen Díaz-Roldán
Oscar Bajo-Rubio is Professor of Economics at the University of Castilla-La Mancha and currently President of the Spanish Association of International Economics and Finance. Carmen Díaz-Roldán is Associate Professor of Economics at the same University.
Bibliographische Angaben
- Autoren: Oscar Bajo-Rubio , Carmen Díaz-Roldán
- 2011, 2011, 50 Seiten, Englisch
- Verlag: Springer-Verlag GmbH
- ISBN-10: 3642194451
- ISBN-13: 9783642194450
- Erscheinungsdatum: 06.05.2011
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- Größe: 0.98 MB
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Sprache:
Englisch
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