Macroeconomic Analysis of Monetary Unions : A General Framework Based on the Mundell-Fleming Model, Paperback / softback Book

Macroeconomic Analysis of Monetary Unions : A General Framework Based on the Mundell-Fleming Model Paperback / softback

Part of the SpringerBriefs in Economics series

Description

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.

Information

  • Format: Paperback / softback
  • Pages: 50 pages, 4 Tables, black and white; VII, 50 p.
  • Publisher: Springer-Verlag Berlin and Heidelberg GmbH & Co. K
  • Publication Date:
  • Category: Economic theory & philosophy
  • ISBN: 9783642194443

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