Professor Rødseth provides a broad survey of open economy
macroeconomics within a unified framework. This upper-level textbook
reviews the theories employed by ministries of finance, central banks
and financial institutions which form the basis for most quantitative
models of open economies. It also points out the limitations of these
theories and gives an update on recent research. The emphasis is on
how the nature of the markets for foreign exchange and for exports and
imports sets the stage for government policy and determines the
macroeconomic effects of external and internal shocks. Particular
attention is paid to the relations between short- and long-run
equilibria and the long-run consequences of national policies.
Short-run wage rigidities play a key role, and models with wage
bargaining are compared to more traditional formulations. Exchange
rate policy and the transmission of shocks are discussed both from a
national and an international perspective.
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Produktdetaljer
ISBN
9780511031113
Publisert
2013
Utgave
1. utgave
Utgiver
Vendor
Cambridge University Press
Språk
Product language
Engelsk
Format
Product format
Digital bok
Forfatter