Flexible Exchange Rates and Employment Policy |
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Page 512
... fiscal , monetary , and commercial policy on the level of employment and output . III . FISCAL POLICY AND EMPLOYMENT I shall define fiscal policy as a budget deficit ( surplus ) created by an increase ( decrease ) in government spending ...
... fiscal , monetary , and commercial policy on the level of employment and output . III . FISCAL POLICY AND EMPLOYMENT I shall define fiscal policy as a budget deficit ( surplus ) created by an increase ( decrease ) in government spending ...
Page 513
... budget deficit mainly affecting spending on home goods will create an expansion of output equal to that indicated by the Keynesian foreign trade multiplier plus an additional amount due to the elimination of the foreign imbalance by the ...
... budget deficit mainly affecting spending on home goods will create an expansion of output equal to that indicated by the Keynesian foreign trade multiplier plus an additional amount due to the elimination of the foreign imbalance by the ...
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