Flexible Exchange Rates and Employment Policy |
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Page 511
... XX lines trace the conditions for internal balance , and the FF schedules the conditions for external balance . The ... line ; and there is a balance - of - payments deficit or surplus depending on whether the exchange rate ( output ) is , ...
... XX lines trace the conditions for internal balance , and the FF schedules the conditions for external balance . The ... line ; and there is a balance - of - payments deficit or surplus depending on whether the exchange rate ( output ) is , ...
Page 513
... line and to the right of the XX line , determined by the intersection of X'X ' and F'F ' , at Q ' . The increased effectiveness of monetary policy under flexible exchange rates is apparent . There are two reasons for this : first , the ...
... line and to the right of the XX line , determined by the intersection of X'X ' and F'F ' , at Q ' . The increased effectiveness of monetary policy under flexible exchange rates is apparent . There are two reasons for this : first , the ...
Page 514
Robert Alexander Mundell. EXCHANGE RATE Y F ' F X X ' OUTPUT X ' X ' -F F ' F X FIGURE ... XX curve since the initial ( Keynesian ) multiplier effect on income is ... line and this means that the price of foreign exchange must decline . To ...
Robert Alexander Mundell. EXCHANGE RATE Y F ' F X X ' OUTPUT X ' X ' -F F ' F X FIGURE ... XX curve since the initial ( Keynesian ) multiplier effect on income is ... line and this means that the price of foreign exchange must decline . To ...
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