Flexible Exchange Rates and Employment Policy |
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Page 509
... exports and inhibit saving and imports increase employment and output , has now hardened into a dogma and filtered ... export subsidies are likely to worsen employ- ment and output in all those situations in which , with a fixed exchange ...
... exports and inhibit saving and imports increase employment and output , has now hardened into a dogma and filtered ... export subsidies are likely to worsen employ- ment and output in all those situations in which , with a fixed exchange ...
Page 513
... exports and so creates a deficit in the balance of payments , shifting the FF schedule upward and to the left . The ... export of capital , or reduced import of capital , further lowers the exchange rate and permits a greater trade ...
... exports and so creates a deficit in the balance of payments , shifting the FF schedule upward and to the left . The ... export of capital , or reduced import of capital , further lowers the exchange rate and permits a greater trade ...
Page 514
... exports without directly affecting the level of saving or investment . Such a policy affects both the internal and external balance schedules . The effect on the internal balance schedule is similar to that of fiscal policy , shifting ...
... exports without directly affecting the level of saving or investment . Such a policy affects both the internal and external balance schedules . The effect on the internal balance schedule is similar to that of fiscal policy , shifting ...
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