Macroeconomic Analysis of Monetary Unions

Macroeconomic Analysis of Monetary Unions

EnglishEbook
Bajo-Rubio, Oscar
Springer Berlin Heidelberg
EAN: 9783642194450
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Detailed information

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.
EAN 9783642194450
ISBN 3642194451
Binding Ebook
Publisher Springer Berlin Heidelberg
Publication date May 6, 2011
Language English
Country Germany
Authors Bajo-Rubio, Oscar; Diaz-Roldan, Carmen
Series SpringerBriefs in Economics
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