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Open Economy Dynamics

  • Book
  • © 1993

Overview

Authors:
  1. Michael Carlberg

    1. Department of Economics, Federal University, Hamburg, Germany

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Part of the book series: Contributions to Economics (CE)

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Table of contents (8 chapters)

  1. Front Matter

    Pages I-1
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  2. Introduction

    1. Introduction

      • Michael Carlberg
      Pages 3-9

  3. Flexible Exchange Rates

    1. Basic Model

      • Michael Carlberg
      Pages 11-86

    2. Economy with Public Sector

      • Michael Carlberg
      Pages 87-124

  4. Fixed Exchange Rates

    1. Front Matter

      Pages 125-125
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    2. Basic Model

      • Michael Carlberg
      Pages 127-151

    3. Economy with Public Sector

      • Michael Carlberg
      Pages 153-169

  5. Synopsis

    1. Synopsis

      • Michael Carlberg
      Pages 171-173

  6. Conclusion

    1. Conclusion

      • Michael Carlberg
      Pages 175-181

  7. Result

    1. Result

      • Michael Carlberg
      Pages 183-184

  8. Back Matter

    Pages 185-203
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Keywords

About this book

The focus is on the inter action between demand and supply in a small open economy featuring the dynamics of private capital, public debt and foreign assets. The overlapping generations model serves as a microfoundation. It proves useful to consider different scenarios. Exchange rates are either flexible or fixed. Money wages can be flexible, fixed or slow. Monetary and fiscal policy may be exogenous or endo­ genous. Either budget deficits are allowed, or continuous budget balance is postula­ ted. Wh at are the implications of various shocks? How does the chain of cause and effect look like? I had many helpful talks with my colleagues at Hamburg: Michael Schmid (now at Bamberg), Wolf Schäfer and Johannes Hackmann. In addition, Daphni-Marina Papadopoulou and Christine Schäfer-Lochte carefully discussed with me all parts of the manuscript. Last but not least, Doris Ehrich typed the manuscript as excellently as ever. I would like to thank all of them. CONTENTS INTRODUCTION 3 PART 1. FLEXIBLE EXCHANGE RATES 11 CHAPTER 1. BASIC MODEL 11 1. Flexible Money Wages 13 13 1. 1. Overlapping Generations 1. 2. Short-Run Equilibrium and Long-Run Equilibrium 23 1. 3. Stability 27 1. 4. Shoeks 30 2. Fixed Money Wages 34 34 2. 1. Overlapping Generations 2. 2. Short-Run Equilibrium and Long-Run Equilibrium 39 2. 3. Stability 41 2. 4. Shoeks 44 3. Slow Money Wages 52 3. 1. Special Case 1= 0 52 3. 2. General Case 60 4. Monetary Poliey 64 4. 1.

Authors and Affiliations

  • Department of Economics, Federal University, Hamburg, Germany

    Michael Carlberg

Bibliographic Information

  • Book Title: Open Economy Dynamics

  • Authors: Michael Carlberg

  • Series Title: Contributions to Economics

  • DOI: https://doi.org/10.1007/978-3-642-49995-1

  • Publisher: Physica Heidelberg

  • eBook Packages: Springer Book Archive

  • Copyright Information: Springer-Verlag Berlin Heidelberg 1993

  • Softcover ISBN: 978-3-7908-0708-0Published: 30 August 1993

  • eBook ISBN: 978-3-642-49995-1Published: 11 November 2013

  • Series ISSN: 1431-1933

  • Series E-ISSN: 2197-7178

  • Edition Number: 1

  • Number of Pages: IX, 203

  • Topics: International Economics

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