Money, Expenditure and External Adjustment

Anthony Makin

Chapter 7 in Global Finance and the Macroeconomy, 2003, pp 127-146 from Palgrave Macmillan

Abstract: Abstract This chapter develops an international monetary framework for analysing monetary and fiscal shocks that is consistent with open economy budget constraints and standard precepts of international finance. The framework is used to capture macroeconomic and financial activity under both fixed and floating exchange rates, explicitly tracing out the external adjustment process.

Keywords: Exchange Rate; International Economic; Open Economy; Budget Constraint; Financial Economic (search for similar items in EconPapers)
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-50403-5_7

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DOI: 10.1057/9780230504035_7

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