Flexible Exchange Rates and Employment Policy |
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Page 509
... policy have not been explored , nor are they sufficiently appreciated by government authorities.2 Consequently I shall exa- mine the effects of fiscal policy , monetary policy , and commercial policy on the level of employment in an ...
... policy have not been explored , nor are they sufficiently appreciated by government authorities.2 Consequently I shall exa- mine the effects of fiscal policy , monetary policy , and commercial policy on the level of employment in an ...
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
... Fiscal policy is therefore more effective in improving employment under a system of flexible exchange rates than under a system of fixed exchange rates . IV . MONETARY POLICY And EmploymENT Monetary policy is in reality extremely ...
... Fiscal policy is therefore more effective in improving employment under a system of flexible exchange rates than under a system of fixed exchange rates . IV . MONETARY POLICY And EmploymENT Monetary policy is in reality extremely ...
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