On the Concept of the Fo~eign Exchange Multiplier

J. Diamond
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J. Diamond: Department of Nottingh~m

The Pakistan Development Review, 1975, vol. 14, issue 2, 233-237

Abstract: Although in recent years there has been increasing recognitIOn of the importance of intermediary imports, the conventional Keynesian treatment of aggregate suplly has generally been adopted. By assuming supply elasticity and conditions of over-production, such imports are treated as a leakage anc}therefore deflationary. This paper investigates another special case which may be a more realistic model for many industrialising economies like Pakistan. Namely/ J.y. assuming supply bottlenecks and the technic;) I dependence of domestic production on imponed inputs, an increase ilJ imports may be inflationary and have an import or foreign exchange multiplier effect

Date: 1975
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