Macroeconomic Analysis of Monetary Unions [recurso electrónico] : A General Framework Based on the Mundell-Fleming Model / by Oscar Bajo-Rubio, Carmen Díaz-Roldán.
Tipo de material: TextoSeries SpringerBriefs in EconomicsEditor: Berlin, Heidelberg : Springer Berlin Heidelberg : Imprint: Springer, 2011Descripción: VII, 50 p. online resourceTipo de contenido: text Tipo de medio: computer Tipo de portador: online resourceISBN: 9783642194450Tema(s): Economics | International economics | Macroeconomics | Economics/Management Science | Economic Theory | Macroeconomics/Monetary Economics | International EconomicsFormatos físicos adicionales: Printed edition:: Sin títuloClasificación CDD: 330.1 Clasificación LoC:HB1-846.8Recursos en línea: Libro electrónicoTipo de ítem | Biblioteca actual | Colección | Signatura | Copia número | Estado | Fecha de vencimiento | Código de barras |
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Libro Electrónico | Biblioteca Electrónica | Colección de Libros Electrónicos | HB1 -846.8 (Browse shelf(Abre debajo)) | 1 | No para préstamo | 375847-2001 |
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HB1 -846.8 Voting Paradoxes and Group Coherence | HB1 -846.8 Nonlinear Dynamics in Economics, Finance and Social Sciences | HB1 -846.8 Computational Methods in Economic Dynamics | HB1 -846.8 Macroeconomic Analysis of Monetary Unions | HB1 -846.8 Aviation Systems | HB1 -846.8 Complexities of Production and Interacting Human Behaviour | HB1 -846.8 Advances in Mathematical Economics |
Introduction -- The Model: Description of the Model; A Macroeconomic Model for a Monetary Union; Characterization of the Shocks.-The Model for a Small Monetary Union: Shock Multipliers; Graphical Analysis -- The Model for a Large Monetary Union: Shock Multipliers; Graphical Analysis -- Conclusions -- Appendix.
The book develops a general framework for the macroeconomic modeling of monetary unions. The starting point of the analysis is the standard two-country Mundell-Fleming model with perfect capital mobility, extended to incorporate the supply side in a context of rigid real wages, and modified so that the money market is common for two countries forming a monetary union. The model is presented in two versions: for a small and a large monetary union, respectively. After solving each model, the authors derive multipliers for monetary, expenditure, supply, and external shocks, both in the short and the long run; a graphical analysis is also provided. Special attention is paid to the crucial distinction between symmetric and asymmetric shocks.
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