Fluctuation, Inflation, and Stabilization in an Open Economy

Fernando de Holanda Barbosa
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Fernando de Holanda Barbosa: FGV EPGE Escola Brasileira de Economia e Finanças (1980/2020)

Chapter 9 in Macroeconomic Theory, 2024, pp 289-327 from Springer

Abstract: Abstract This chapter presents economic fluctuation and stabilization models in a small open economy. The first section addresses the Mundell-Fleming-Dornbusch model under a fixed exchange rate regime. The second section adds the balance-of-payments equation to this model since wealth is an argument in the consumption function. The third section introduces the fixed exchange rate regime in a new Keynesian model. The fourth section deals with the Mundell-Fleming-Dornbusch model under a flexible exchange rate regime. The fifth section analyzes the extended Mundell-Fleming-Dornbusch model for a flexible exchange rate. The sixth section presents the flexible exchange rate for the new Keynesian model.

Date: 2024
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DOI: 10.1007/978-3-031-70177-1_9

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