Flexible Exchange Rates and Employment Policy |
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Page 509
... Laursen and Lloyd Metzler , " Flexible Exchange Rates and the Theory of Employment , " Review of Economics and Statistics , Nov. , 1950 , 281-99 . This important article , and Harberger's justly celebrated " Currency Depreciation ...
... Laursen and Lloyd Metzler , " Flexible Exchange Rates and the Theory of Employment , " Review of Economics and Statistics , Nov. , 1950 , 281-99 . This important article , and Harberger's justly celebrated " Currency Depreciation ...
Page 510
... Laursen and Metzler , “ Flexible Exchange Rates and the Theory of Employment . " EXCHANGE RATE F X B C L L OUTPUT FIGURE 510 Canadian Journal of Economics and Political Science.
... Laursen and Metzler , “ Flexible Exchange Rates and the Theory of Employment . " EXCHANGE RATE F X B C L L OUTPUT FIGURE 510 Canadian Journal of Economics and Political Science.
Common terms and phrases
assume balance of payments capital movements central bank changes commercial policy creates an excess depreciation dynamic system effective under flexible effects of fiscal eliminated employment and output equilibrium exceed the slope excess demand excess supply exchange rate-output complex exports F X FIGURE FF schedule fiscal policy fixed exchange rates flexible exchange rates foreign balance schedule foreign exchange foreign trade multiplier foreign-balance schedule improve employment income expansion increase employment increase in income increase in output increased investment interest rate internal balance schedule internal-balance schedule Keynesian Laursen-and-Metzler leakage through foreign level of employment level of output locus of exchange ment monetary policy multiplier effect Policy on Employment positive slope price of foreign quadrants RATE X F reduce capital imports situation in Figure slope of FF slope of XX spending on home STABILITY CONDITIONS terms of trade Theory of Employment XX curve XX exceed XX line XX schedule θα ах