The Design of Simple Rules for the Open Economy

Patrizio Tirelli

Chapter 1 in Monetary and Fiscal Policy, the Exchange Rate and Foreign Wealth, 1993, pp 3-22 from Palgrave Macmillan

Abstract: Abstract It is often argued that macroeconomics is currently in a state of flux. Several schools of macroeconomists have competed in the intellectual arena to provide a suitable policy framework. But the alternative policy packages which have been advocated, either orthodox Keynesian, monetarist or new classical, seem to have been unable to tackle both the unprecedented levels of unemployment recently experienced and the trade imbalances which endangered the stability of the inter-national monetary system.

Keywords: Interest Rate; Optimal Policy; Current Account; Fiscal Policy; Real Interest Rate (search for similar items in EconPapers)
Date: 1993
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-22605-4_1

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DOI: 10.1007/978-1-349-22605-4_1

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