Flexible Exchange Rates and Employment Policy |
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Page 509
... policy - makers and revolutionizing older con- cepts of fiscal policy . The most important of Keynes's practical lessons , that ... monetary policy , and commercial policy on the level of employment in an economy whose exchange rate is ...
... policy - makers and revolutionizing older con- cepts of fiscal policy . The most important of Keynes's practical lessons , that ... monetary policy , and commercial policy on the level of employment in an economy whose exchange rate is ...
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 ...
Page 514
... Monetary Policy on Employment . A reduction in interest rates creates an excess demand for goods and services , shifting XX to X'X ' , and occasions decreased capital imports , shifting FF to F'F ' , establishing Q ' as the new ...
... Monetary Policy on Employment . A reduction in interest rates creates an excess demand for goods and services , shifting XX to X'X ' , and occasions decreased capital imports , shifting FF to F'F ' , establishing Q ' as the new ...
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