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Palgrave Macmillan

Open-Economy Macroeconomics

  • Book
  • © 1993

Overview

Editors:
  1. Helmut Frisch

    1. University of Technology, Vienna, Austria

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    You can also search for this editor in PubMed   Google Scholar

  2. Andreas Wörgötter

    1. Department of Economics, Institute for Advanced Studies, Vienna, Austria

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    You can also search for this editor in PubMed   Google Scholar

Part of the book series: International Economic Association Series (IEA)

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Table of contents (21 chapters)

  1. Front Matter

    Pages i-xxxi
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  2. Monetary Policy in Open Economies

    1. Front Matter

      Pages 1-1
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    2. Exchange-Rate Based Stabilisation under Imperfect Credibility

      • Guillermo A. Calvo, Carlos A. Végh
      Pages 3-28

    3. Devaluation, the Terms of Trade, and Investment in a Keynesian Economy

      • Michael Gavin
      Pages 29-45

    4. Sheet Anchors, Fixed Price Anchors and Price Stability in a Monetary Union

      • Andrew J. Hughes Hallett, David Vines, Myrvin Anthony
      Pages 46-69

    5. Foreign Supply Shocks, Wage Indexation and Optimal Monetary Policy

      • Franz X. Hof
      Pages 70-91

  3. Domestic Adjustment to Foreign Shocks

    1. Front Matter

      Pages 93-93
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    2. The Impact of Fiscal and Productivity Shocks on the Natural Rate of Unemployment in a Two-Country World

      • Hian Teck Hoon, Edmund S. Phelps
      Pages 95-118

    3. Shocks and Aggregate Low Frequency Variability in a Small Open Economy

      • Christian C. Starck
      Pages 119-136

    4. Real Shocks and the Real Exchange Rate

      • Emil-Maria Claassen
      Pages 137-152

    5. Economic Adjustment and Growth in Small Developing Countries

      • DeLisle Worrell
      Pages 153-163

  4. Labour and Capital Markets in Open Economies

    1. Front Matter

      Pages 165-165
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    2. Influence of Fiscal Shocks on Exchange Rate Volatility under Imperfect Capital Mobility and Asset Substitutability

      • Şaziye Gazioḡlu
      Pages 167-185

    3. Domestic and Foreign Shocks to Employment and Capital Accumulation in Germany

      • Oliver Landmann, Jürgen Jerger
      Pages 186-202

    4. Capital Taxation, Housing Investment and Wealth Accumulation in a Small Open Economy

      • Søren Bo Nielsen, Peter Birch Sørensen
      Pages 203-223

    5. Underemployment Equilibria in an Empirical Macromodel for Austria

      • Peter Neudorfer, Karl Pichelmann
      Pages 224-237

  5. Interdependence of Open Economies

    1. Front Matter

      Pages 239-239
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    2. Measurement Errors and the Convergence Hypothesis

      • Edward E. Leamer
      Pages 241-256

    3. Three Parity Conditions in International Finance

      • Richard C. Marston
      Pages 257-271

    4. Endogenous Growth, Convergence and Fiscal Policies in an Interdependent World

      • George S. Alogoskoufis, Frederick van der Ploeg
      Pages 272-288
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Keywords

About this book

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.

Editors and Affiliations

  • University of Technology, Vienna, Austria

    Helmut Frisch

  • Department of Economics, Institute for Advanced Studies, Vienna, Austria

    Andreas Wörgötter

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