Flexible Exchange Rates and Employment Policy |
From inside the book
Results 1-3 of 4
Page 509
Robert Alexander Mundell. FLEXIBLE EXCHANGE RATES AND EMPLOYMENT POLICY ROBERT MUNDELL The Johns Hopkins Bologna Center of Advanced International Studies * I THE theory of employment that grew out of the Great Depression was not long in ...
Robert Alexander Mundell. FLEXIBLE EXCHANGE RATES AND EMPLOYMENT POLICY ROBERT MUNDELL The Johns Hopkins Bologna Center of Advanced International Studies * I THE theory of employment that grew out of the Great Depression was not long in ...
Page 510
... rate at home and abroad , but that the latter are parameters determined by monetary policy . I further assume that foreign incomes are given during the period under consideration , and that output at home is perfectly elastic up to the ...
... rate at home and abroad , but that the latter are parameters determined by monetary policy . I further assume that foreign incomes are given during the period under consideration , and that output at home is perfectly elastic up to the ...
Page 512
... exchange rate ( the price of foreign currency ) would have to fall : this means that the XX schedule ( Figure 3 ) shifts down and to the right . The new equilibrium , determined by the intersection of the original FF schedule and the ...
... exchange rate ( the price of foreign currency ) would have to fall : this means that the XX schedule ( Figure 3 ) shifts down and to the right . The new equilibrium , determined by the intersection of the original FF schedule and 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