Bajo-Rubio, Oscar.
Macroeconomic Analysis of Monetary Unions A General Framework Based on the Mundell-Fleming Model / [electronic resource] : by Oscar Bajo-Rubio, Carmen Díaz-Roldán. - VII, 50p. 10 illus. online resource. - SpringerBriefs in Economics . - SpringerBriefs in 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.
9783642194450
10.1007/978-3-642-19445-0 doi
Economics.
International economics.
Macroeconomics.
Economics/Management Science.
Economic Theory.
Macroeconomics/Monetary Economics.
International Economics.
HB1-846.8
330.1
Macroeconomic Analysis of Monetary Unions A General Framework Based on the Mundell-Fleming Model / [electronic resource] : by Oscar Bajo-Rubio, Carmen Díaz-Roldán. - VII, 50p. 10 illus. online resource. - SpringerBriefs in Economics . - SpringerBriefs in 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.
9783642194450
10.1007/978-3-642-19445-0 doi
Economics.
International economics.
Macroeconomics.
Economics/Management Science.
Economic Theory.
Macroeconomics/Monetary Economics.
International Economics.
HB1-846.8
330.1