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Beschreibung
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.
A General Framework Based on the Mundell-Fleming Model
Details
| Verlag | Springer Berlin |
| Ersterscheinung | 08. Mai 2011 |
| Maße | 23.5 cm x 15.5 cm |
| Gewicht | 108 Gramm |
| Format | Softcover |
| ISBN-13 | 9783642194443 |
| Seiten | 50 |
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