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Author : Robert G. Murphy
Publisher :
ISBN 13 :
Total Pages : 352 pages
Book Rating : 4.:/5 (119 download)
Download or read book Essays on Macroeconomic Adjustment in Open Economies written by Robert G. Murphy and published by . This book was released on 1984 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert Gerard Murphy
Publisher :
ISBN 13 :
Total Pages : 176 pages
Book Rating : 4.:/5 (253 download)
Download or read book Essays on macroeconomics adjustment in open economies written by Robert Gerard Murphy and published by . This book was released on 1984 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Franz Gehrels
Publisher : Springer Science & Business Media
ISBN 13 : 3642956599
Total Pages : 194 pages
Book Rating : 4.6/5 (429 download)
Download or read book Essays in Macroeconomics of an Open Economy written by Franz Gehrels and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: The large aggregates in the economy - consumption, investment, production of the domestic and the international sectors, international capital flows, financial accumulation and indebtedness - are analysed in this book as problems in time-optimisation for enterprises and households. The effects of fiscal and monetary policies along with exchange-rate variation are examined, and their simultaneous use for stabilizing demand are found to be necessary. All household decisions on consumptions, savings, and financial disposition are conditioned by uncertainty, and similarly for firms, who make more complex simultaneous decisions on production, real investment, financing, and market strategy. The marginal efficiency-of-investment function derived from these decisions is fundamentally different from the marginal productivity of capital in the neoclassical sense. An economy which grows through the accumulation of capital, increase in labor supply, and technological progress is the framework in which all of these variables move. This codetermines the allocation of factors between domestic and international production, and the development of foreign trade. The growth both of the public debt and of international investment are treated in depth.
Author : Karl-Josef Koch
Publisher : Springer Science & Business Media
ISBN 13 : 3662004232
Total Pages : 398 pages
Book Rating : 4.6/5 (62 download)
Download or read book Trade, Growth, and Economic Policy in Open Economies written by Karl-Josef Koch and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: Part 1 of this volume focusses on globalization. Gains from trade, international competitiveness, labour market issues in open economies, customs unions, dumping and intra-firm trade are the topics of this part. Part 2 puts a stronger emphasis on dynamic economics. Social income, intergenerational transfers, public pension systems, and bequest and gift motives in overlapping generation models are main topics. Economic policies are analyzed in Part 3, including the relation between wage rigidity and migration, several aspects of German financial and monetary policy, as well as tax competition. The volume concludes with institutional issues of globalization, a western view on eastern transition, social cost of rent seeking, and the evolution of social institutions.
Author : Helmut Frisch
Publisher : Springer
ISBN 13 : 1349128848
Total Pages : 437 pages
Book Rating : 4.3/5 (491 download)
Download or read book Open-Economy Macroeconomics written by Helmut Frisch and published by Springer. This book was released on 2016-07-27 with total page 437 pages. Available in PDF, EPUB and Kindle. Book excerpt: The integration of market economies is one of the most remarkable features of international economics, which has important implications for macroeconomic performance in open economies. Equally important is the declining relevance of the real versus the monetary theory dichotomy. These papers focus on those aspects of monetary policy which relate to credibility and non-neutrality; the domestic adjustment to foreign shocks; the interdependence of open economies and their strategic interactions. An important section is also devoted to the innovative modelling of exchange rate dynamics.
Author : John Smithin
Publisher : World Scientific Publishing Company
ISBN 13 : 9814525294
Total Pages : 341 pages
Book Rating : 4.8/5 (145 download)
Download or read book Essays In The Fundamental Theory Of Monetary Economics And Macroeconomics written by John Smithin and published by World Scientific Publishing Company. This book was released on 2013-06-27 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive overview, in the form of eight long essays, of the evolution of monetary theory over the three-quarters of century, from the time of Keynes to the present day. The essays are originally based on lecture notes from a graduate course on Advanced Monetary Economics offered at York University, Toronto, written in the style of academic papers. The essays are mathematical in method — but also take a historical perspective, tracing the evolution of monetary thought through the Keynesian model, the monetarist model, new classical model, etc, up to and including the neo-Wickesellian models of the early 21st century. The book will be an essential resource for both graduate and advanced undergraduate students in economics, as well as for individual researchers seeking basic information on the theoretical background of contemporary debates.
Author : Ramon Antonio Gonzalez Hernandez
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (83 download)
Download or read book Essays in open economy macroeconomics written by Ramon Antonio Gonzalez Hernandez and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Research macroeconomists have witnessed remarkable methodological developments in mathematical, statistical, and computational tools during the last two decades. The three essays in this dissertation took advantage of these advances to analyze important macroeconomic issues. The first essay, " Habit Formation, Adjustments Costs, and International Business Cycle Puzzles" analyzes the extent to which incorporating habit formation and adjustment costs in investment in a one-good two-country general equilibrium model would help overcome some of the international business cycle puzzles. Unlike standard results in the literature, the model generates persistent, cyclical adjustment paths in response to shocks. It also yields positive cross-country correlations in consumption, employment, investment, and output. Cross-country correlations in output are higher than the ones in consumption. This is qualitatively consistent with the stylized facts. These results are particularly striking given the predicted negative correlations in investment, employment, and output that are typically found in the literature. The second essay, "Comparison Utility, Endogenous Time Preference, and Economic Growth," uses World War II as a natural experiment to analyze the degree to which a model where consumers' preferences exhibit comparison-based utility and endogenous discounting is able to improve upon existing models in mimicking the transitional dynamics of an economy after a shock that destroys part of its capital stock. The model outperforms existing ones in replicating the behavior of the saving rate (both on impact and along the transient paths) after this historical event. This result brings additional support to the endogenous rate of time preference being a crucial element in growth models. The last essay, "Monetary Policy under Fear of Floating: Modeling the Dominican Economy," presents a small scale macroeconomic model for a country (Dominican Republic) characterized by a strong pr
Author : Wataru Miyamoto
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (888 download)
Download or read book Essays on Macroeconomics written by Wataru Miyamoto and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation is a collection of three essays on macroeconomics, examining the sources of business cycles. In particular, we are interested in understanding how shocks propagate over the business cycle in both closed economy and open economy settings. The common approach we take in these chapters is to use both theory and data in a structural estimation based on a dynamic stochastic general equilibrium model. In the first chapter, motivated by the correlation of business cycles across countries, we provide a new empirical evidence about the role of common shocks in business cycles for small open economies. Specifically, we conduct a structural estimation of a small open economy real business cycle model featuring a realistic debt adjustment cost and common shocks. Using a novel dataset for 17 small developed and developing countries between 1900 and 2006, we find that common shocks are a primary source of business cycles, explaining nearly 50% of the output fluctuations over the last 100 years in small open economies.
Author : Willem H. Buiter
Publisher : Oxford University Press, USA
ISBN 13 :
Total Pages : 380 pages
Book Rating : 4.:/5 (321 download)
Download or read book International Macroeconomics written by Willem H. Buiter and published by Oxford University Press, USA. This book was released on 1990 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume brings together 12 essays on macroeconomic policy in the open economy. The subject matter is divided equally between analyses of the internal and external adjustment problems of small open economies and studies of the behaviour of large interdependent countries.
Author : Christian David Frois
Publisher :
ISBN 13 :
Total Pages : 150 pages
Book Rating : 4.:/5 (248 download)
Download or read book Essays in Open Economy Macroeconomics written by Christian David Frois and published by . This book was released on 2000 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Pascal Towbin
Publisher :
ISBN 13 :
Total Pages : 123 pages
Book Rating : 4.:/5 (716 download)
Download or read book Financial Integration and Financial Frictions written by Pascal Towbin and published by . This book was released on 2011 with total page 123 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Peter B. Kenen
Publisher : Princeton University Press
ISBN 13 : 0691034087
Total Pages : 566 pages
Book Rating : 4.6/5 (91 download)
Download or read book Understanding Interdependence written by Peter B. Kenen and published by Princeton University Press. This book was released on 1995-06-04 with total page 566 pages. Available in PDF, EPUB and Kindle. Book excerpt: Surveying the current state of knowledge on the international monetary system, this volume contains essays on the behaviour of exchange rates, current account adjustment, international debt, European monetary union, capital mobility, the reform of former planned economies, and more.
Author : Assar Lindbeck
Publisher : Edward Elgar Publishing
ISBN 13 :
Total Pages : 360 pages
Book Rating : 4.0/5 ( download)
Download or read book The Selected Essays of Assar Lindbeck: Macroeconomics and economic policy written by Assar Lindbeck and published by Edward Elgar Publishing. This book was released on 1993 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first volume in a two-volume set on macroeconomics, economic policy and the welfare state. This volume covers the development of the author's thought, illustrating how his experience of economic policy-making in Sweden has led him to form his current opinions.
Download or read book Three Essays in Open Economy and International Macroeconomics written by and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation comprises three essays in open economy and international macroeconomics. The first essay investigates the propagation mechanism of real exchange rate shocks to key real sectors that constitute U.S. foreign trade. The analysis is carried out by decomposing the U.S. trade balance into agriculture, manufacturing and services and evaluating how these sectors respond through the monetary policy channel to a shock in the real exchange rate. A VAR model is constructed using quarterly data of the U.S. foreign trade from 1976Q2 to 2005Q1. The results show that a shock to the real exchange rate has a greater impact on manufacturing and services net trade relative to agriculture. Moreover, the results also indicate, at the sectoral level, that exports are more sensitive to the real exchange rate shocks than are imports. These results are important to researchers using dynamic stochastic general equilibrium (DSGE) models of small open economies because they show transmission features of real exchange rate and monetary policy disturbances to key sectoral components of exports, imports and the trade balance. The second essay employs a dynamic stochastic general equilibrium framework to an open economy setting in order to investigate the mechanism through which the key sectors of agriculture, manufacturing and services are affected by shocks in the real exchange rates. The essay investigates exchange rate movements as deviations from purchasing power parity, disregarding the changes in the prices of non-tradable goods relative to tradable goods among countries. The results suggest that exchange rate movements are a function of structural parameters that constitute the three sectors of agriculture, manufacturing and services such as labor shares and the elasticity of substitution between domestic and foreign goods. The third essay examines the key forces driving innovation among entrepreneurs of ICT (information and communications technology) firms within Bangalore, India0́9s leading software city. The essay employs the multinomial logistic technique on qualitative variables related to education, social strata, experience, and diaspora of Indian software entrepreneurs to show empirically their relevance in explaining Schumpeterian innovation in the Indian software industry. This study not only looks at the impact of years of schooling on innovation, but also the types of education received by an entrepreneur, such as technical or commercial type of education, whether the last degree was received from India or from abroad and whether the entrepreneur attended the Indian Institute of Technology. The empirical results indicate that, the level of education, in terms of number of years of schooling and types of education received by an Indian software entrepreneur are statistically significant in explaining innovation in the Indian software industry. The results also show that, more years of experience in the software industry by an entrepreneur, increases the probability that they become innovators and reduces the likelihood of imitation. Moreover, the likelihood of adaptation is invariant to years of experience in the industry. We also investigate whether exposure to foreign technology increases the likelihood of innovation in the industry by examining three types of diaspora networks, that is, living abroad, working abroad and being a CEO abroad at least 6 months before establishing a software company in India. The results suggest that this foreign exposure increases the likelihood of innovation and reduces imitation and adaptation. Among studies of Indian entrepreneurs examining caste, this study is unique in that caste has no statistical significance in explaining entrepreneurship.
Author : Luís Brites Pereira
Publisher : Springer Nature
ISBN 13 : 3030532658
Total Pages : 339 pages
Book Rating : 4.0/5 (35 download)
Download or read book Economic Globalization and Governance written by Luís Brites Pereira and published by Springer Nature. This book was released on 2020-10-16 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reflecting the diverse and profound changes triggered by the latest wave of economic globalization, this book highlights various governance responses at national, regional and global levels. The topics covered are wide-ranging and include economic history and development, European integration, exchange rate arrangements, industrial and labor economics, international cooperation and multilateralism, and public choice. The book is divided into three parts: The first part, which contains contributions by Barry Eichengreen and Marc Flandreau, is devoted to economic history. The second part examines open economy macroeconomics with a focus on Europe, including contributions by Jurgen von Hagen and Paul Krugman. The third part presents contributions to international political economy, and related interdisciplinary topics. This Festschrift is written in honor of Jorge Braga de Macedo, Professor Emeritus of Economics at the Nova School of Business and Economics and a distinguished Portuguese academic whose work has an impressive global reach. The contributions, written by a selection of international authors, deal with his oeuvre covering the wide range of topics broached in this book, as his publication record amply attests.
Author : Arie Arnon
Publisher : Springer Science & Business Media
ISBN 13 : 9781402071621
Total Pages : 364 pages
Book Rating : 4.0/5 (716 download)
Download or read book The Open Economy Macromodel: Past, Present and Future written by Arie Arnon and published by Springer Science & Business Media. This book was released on 2002-09-30 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Open Economy Macromodel: Past, Present And Future has two main objectives. The first is to assess the state of play of the Open Economy Macromodel by bringing together those who developed it with those who apply it today. The second is to assess possible directions for its future development. The volume is divided into three parts. Part one focuses on the models, men, and institutions involved in the development of the international macroeconomic model. In this section, the contributors examine the two monetary approaches to the balance of payments, as well as the relationship between long-term fluctuations in real exchange rates and inflation. Part two deals with the present state of the models by looking at Robert Mundell's theory of optimum currency areas (OCAs) and its relationship with key currencies. The chapters in this section also consider the impact of exchange rate variability on labor markets, as well as the interactions between theoretical developments and real-world behavior in the open economy macromodel. The third and last part of this volume provides a perspective on the future by looking at alternate models and institutional perspectives. Several contributors examine the relationship between asset prices, the real exchange rate, and unemployment in a small economy via what they call "a medium-run structuralist perspective". The future of institutional structures necessary to conduct international economic policy is the subject of the last chapters in part three of the volume.
Author : Thierry Chauvel
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (119 download)
Download or read book Essays on Open Economy Macroeconomics written by Thierry Chauvel and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this thesis is to evaluate macroeconomic interdependence between developed economies over the recent decades and, in particular, following the 2007-09 US financial crisis. For that purpose, we use several modeling assumptions across the three main chapters of the thesis to capture the international dimension of business cycles across countries: panel VAR model to model countries interdependence directly, simple VAR model with both domestic and foreign variables, and two-country DSGE model to model the real and financial mechanisms that link countries together. Our main result is that international dimension is important to explain the macroeconomic dynamics of developed economies over the last three decades and for either real, nominal and financial variables. Nevertheless, the role of foreign factors does not grow over time as would be expected with the increase in globalization of the recent decades. Also, looking at the recent economic crises in the US and the euro area, we confirm that the 2007-09 US financial crisis features a bigger shock relative to historical standards, which propagated to euro area economies through international financial linkages. In contrast, the 2011 euro area sovereign debt crisis features a standard shock, comparable to those observed in previous European crises like the 1992-1993 ERM crisis, and affecting mostly European economies.
