Global Macroeconomic Management

Graham Bird

Chapter 8 in International Macroeconomics, 1987, pp 113-123 from Palgrave Macmillan

Abstract: Abstract When we move away from looking at individual economies and their dealings with the rest of the world to examining the operation of the world economy as a whole, the BP schedule introduced in previous chapters loses its relevance. The world economy does not trade with, lend to, or borrow from other economies. In essence we are back within the confines of the closed economy model which is conventionally represented by the IS-LM framework.

Keywords: Exchange Rate; Monetary Policy; Aggregate Demand; Flexible Exchange Rate; International Reserve (search for similar items in EconPapers)
Date: 1987
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DOI: 10.1007/978-1-137-09829-0_8

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