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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.
| Autorius: | Carmen Díaz-Roldán, Oscar Bajo-Rubio, |
| Serija: | SpringerBriefs in Economics |
| Leidėjas: | Springer Berlin Heidelberg |
| Išleidimo metai: | 2011 |
| Knygos puslapių skaičius: | 60 |
| ISBN-10: | 3642194443 |
| ISBN-13: | 9783642194443 |
| Formatas: | 235 x 155 x 4 mm. Knyga minkštu viršeliu |
| Kalba: | Anglų |
Parašykite atsiliepimą apie „Macroeconomic Analysis of Monetary Unions: A General Framework Based on the Mundell-Fleming Model“
