Flexible Exchange Rates and Employment Policy |
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Page 509
... government policy - makers and revolutionizing older con- cepts of fiscal ... spending , and a reduction in saving or taxation , will have a substantially ... government authorities.2 Consequently I shall exa- mine the effects of fiscal ...
... government policy - makers and revolutionizing older con- cepts of fiscal ... spending , and a reduction in saving or taxation , will have a substantially ... government authorities.2 Consequently I shall exa- mine the effects of fiscal ...
Page 512
... government spending on home goods or a decrease ( increase ) in taxes which primarily affect spending on home goods . Then fiscal policy will significantly affect only the position of the internal - balance schedule . " At the initial ...
... government spending on home goods or a decrease ( increase ) in taxes which primarily affect spending on home goods . Then fiscal policy will significantly affect only the position of the internal - balance schedule . " At the initial ...
Page 513
... government spend- ing or a reduction in taxes creates , at constant output , an excess demand for goods and services ... spending on home goods will create an expansion of output equal to that indicated by the Keynesian foreign trade ...
... government spend- ing or a reduction in taxes creates , at constant output , an excess demand for goods and services ... spending on home goods will create an expansion of output equal to that indicated by the Keynesian foreign trade ...
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