Macroeconomic Policy, Interest Rates and National Income

Anthony Makin

Chapter 8 in Global Imbalances, Exchange Rates and Stabilization Policy, 2009, pp 126-142 from Palgrave Macmillan

Abstract: Abstract This chapter develops an alternative international macroeconomic model for evaluating the effectiveness of fiscal and monetary policy in stabilizing national income under fixed and floating exchange rates. It encompasses national output and income, saving, investment, the current account, interest rates and the money supply, while incorporating long-recognized linkages between the exchange rate, price levels and real interest rates, consistent with conventional international parity conditions.

Keywords: Exchange Rate; Monetary Policy; Money Supply; National Income; Exchange Rate Regime (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-25075-8_8

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DOI: 10.1057/9780230250758_8

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