International Adjustment in the New Neoclassical Synthesis

Marvin Goodfriend ()

Kiel Working Papers from Kiel Institute for the World Economy

Abstract: This paper applies principles of the New Neoclassical Synthesis (NNS) to questions of international trade and financial adjustment. The analytical framework is a 2-country, 2-good, 2- period model designed to explore the behavior of the balance of payments, the terms of trade, and aggregate fluctuations in terms of interest rate and exchange rate policies practiced by the world's most important central banks.

New Economics Papers: this item is included in nep-cba
Date: 2007-06
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Persistent link: http://EconPapers.repec.org/RePEc:kie:kieliw:1345

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