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Macroeconomic Analysis of Monetary Unions

A General Framework Based on the Mundell-Fleming Model

Oscar Bajo-Rubio, Carmen Díaz-Roldán (Autoren)

Buch | Softcover

VII, 50 Seiten

2011 | 2011
Springer Berlin (Verlag)
978-3-642-19444-3 (ISBN)

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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.

Oscar Bajo-Rubio is Professor of Economics at the University of Castilla-La Mancha and currently President of the Spanish Association of International Economics and Finance. Carmen Díaz-Roldán is Associate Professor of Economics at the same University.

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.

Erscheint lt. Verlag	8.5.2011
Reihe/Serie	SpringerBriefs in Economics
Zusatzinfo	VII, 50 p.
Verlagsort	Berlin
Sprache	englisch
Maße	155 x 235 mm
Gewicht	112 g
Themenwelt	Wirtschaft ► Allgemeines / Lexika
	Wirtschaft ► Volkswirtschaftslehre ► Finanzwissenschaft
	Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie
Schlagworte	Macroeconomic Shocks • Makroökonomie • Monetary Union • Mundell-Fleming model • Mundell-Fleming-Modell • Währungsunion
ISBN-10	3-642-19444-3 / 3642194443
ISBN-13	978-3-642-19444-3 / 9783642194443
Zustand	Neuware