Macroeconomic Analysis of Monetary Unions: A General by Oscar Bajo-Rubio,Carmen Díaz-Roldán

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By Oscar Bajo-Rubio,Carmen Díaz-Roldán

The ebook develops a basic framework for the macroeconomic modeling of financial unions. the start line of the research is the normal two-country Mundell-Fleming version with ideal capital mobility, prolonged to include the provision facet in a context of inflexible actual wages, and converted in order that the cash marketplace is usual for 2 nations forming a financial union. The version is gifted in types: for a small and a wide financial union, respectively. After fixing every one version, the authors derive multipliers for financial, expenditure, offer, and exterior shocks, either within the brief and the longer term; a graphical research can also be supplied. particular awareness is paid to the an important contrast among symmetric and uneven shocks.

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