Supply Shocks Wage Stickiness And Accommodation
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Supply Shocks Wage Stickiness And Accommodation
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Author : Stanley Fischer
language : en
Publisher:
Release Date : 1983
Supply Shocks Wage Stickiness And Accommodation written by Stanley Fischer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1983 with Demand (Economic theory) categories.
The main issue discussed in the supply shock literature that followed the oil and food price shocks of the seventies was whether to accommodate. The supply shock reduces the equilibrium level of output, and monetary policy can not affect that. But in the seventies supply shocks were also followed by recessions. The question is whether monetary policy can and should be used to prevent such recessions. The paper analyzes the conditions underwhich a suppiy shock will result in recession, and the potential for monetary policy to offset the fall in output. The basic result is that a pure supply shock need not resultin a recession if the money stock is held constant.Aggregate demand effects associated with the supply shock--including the effectsof monetary policy attempts to fight the inflation caused by the supply shock--may cause a recession, as also may real wage resistance by workers. The choice of policy response to the supply shock then turns on the same basic issues as counter-cyclical policy in general, particularly the relative costs of inflation and unemployment.
Supply Shocks Wage Indexation And Monetary Accomodation
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Author : Joshua Aizenman
language : en
Publisher:
Release Date : 1985
Supply Shocks Wage Indexation And Monetary Accomodation written by Joshua Aizenman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985 with categories.
Open Economy Macroeconomics
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Author : Helmut Frisch
language : en
Publisher: Springer
Release Date : 2016-07-27
Open Economy Macroeconomics written by Helmut Frisch and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-07-27 with Business & Economics categories.
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.
Productivity Growth Inflation And Unemployment
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Author : Robert James Gordon
language : en
Publisher: Cambridge University Press
Release Date : 2004
Productivity Growth Inflation And Unemployment written by Robert James Gordon and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Business & Economics categories.
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Economic Adjustment And Exchange Rates In Developing Countries
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Author : Sebastian Edwards
language : en
Publisher: University of Chicago Press
Release Date : 2007-12-01
Economic Adjustment And Exchange Rates In Developing Countries written by Sebastian Edwards and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-12-01 with Business & Economics categories.
In spite of the attention paid exchange rates in recent economic debates on developing countries, relatively few studies have systematically analyzed in detail the various ramifications of exchange rate policy in these countries. In this new volume from the National Bureau of Economic Research, leading economists use rigorous models to tackle various exchange rate issues, while also illuminating policy implications that emerge from their analyses. The volume, divided into four main sections, addresses: the role of exchange rates in stabilization programs and the adjustment process; the importance of exchange rate policy during liberalization reform in developing countries; exchange rate problems relevant and unique to developing countries, illustrated by case studies; and the problems defining, measuring, and identifying determinants of real exchange rates. Authors of individual papers examine the relation between commercial policies and exchange rates, the role of exchange rate policy in stabilization programs, the effectiveness of devaluations as a policy tool, and the interaction between exchange rate terms of trade an capital flow. This research will not only prove crucial to our understanding of the role of exchange rates in developing countries, but will clearly set the standard for future work in the field.
The U S And The World Economy
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Author : John Yochelson
language : en
Publisher: Routledge
Release Date : 2019-07-11
The U S And The World Economy written by John Yochelson and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-07-11 with Political Science categories.
The structure of the world economy has changed dramatically in recent years, reflecting a redefinition of U.S. interests in light of increasing foreign penetration in U.S. markets, global pressures for protectionist policies, the emergence of the newly industrializing countries, and the vulnerabilities of the international financial system. This collection of essays addresses these and other developments facing policymakers in business, government, and labor. The authors discuss policy challenges in international trade, technological competition, exchange-rate disequilibrium, Third World debt, and the role of the private sector.
Wage Rigidity And Unemployment
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Author : Wilfred Beckerman
language : en
Publisher: Bloomsbury Academic
Release Date : 1986
Wage Rigidity And Unemployment written by Wilfred Beckerman and has been published by Bloomsbury Academic this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with Business & Economics categories.
The External Sector Of Africa S Economy
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Author : Diery Seck
language : en
Publisher: Springer
Release Date : 2019-04-05
The External Sector Of Africa S Economy written by Diery Seck and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-04-05 with Business & Economics categories.
The book examines various aspects of Africa's external economy by focusing on regional monetary arrangements and how they are affected by devaluation episodes. It investigates the relationship between current account balances, trade balances and trade openness with respect to regional integration and regional growth patterns, discusses obstacles to a successful regional integration and paths to structural transformation, and studies the impact of economic partnership on inclusive development. The book addresses researchers and policymakers interested in development economies and African economic development.
Inflation Pressures And Monetary Policy Options In Emerging And Developing Countries A Cross Regional Perspective
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Author : Mr.Luis Ignacio Jácome
language : en
Publisher: International Monetary Fund
Release Date : 2009-01-01
Inflation Pressures And Monetary Policy Options In Emerging And Developing Countries A Cross Regional Perspective written by Mr.Luis Ignacio Jácome and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-01-01 with Business & Economics categories.
This paper analyzes the monetary policy response to rising inflation in emerging and developing countries associated with the food and oil price shocks in 2007 and the first half of 2008. It reviews inflation developments in a sample of countries covering all regions and a broad range of monetary and exchange rate policy regimes; discusses the underlying causes of inflation; provides a synthesis of policy responses taken against the background of the conflicting objectives and trade-offs, the uncertainties regarding the nature of the shocks, and the additional challenges brought on by the global financial turmoil; and presents considerations for policy.
The New Palgrave Dictionary Of Money And Finance
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Author : John Eatwell
language : en
Publisher: Springer
Release Date : 1992-10-14
The New Palgrave Dictionary Of Money And Finance written by John Eatwell and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992-10-14 with Business & Economics categories.
The first reference work ever to be awarded the Eccles Prize for Excellence in Economic Writing from Columbia Business School. Continuing in the tradition of The New Palgrave , this 3-volume set provides an unparalleled guide to modern money, banking and finance. In over 1,000 substantial essays by leading academic and professional authorities, it provides the most comprehensive analysis available of contemporary theory and the fast-evolving global monetary and financial framework. In its scope and depth of coverage, it is indispensable for the academic and practitioner alike.