Macroeconomic interdependence between a stagnant and a fully employed country

Material type: 文書・図像類

Author: Ono, Yoshiyasu

Publisher: The Institute of Social and Economic Research, Osaka University

Publication date: 2017-06

Material Format: Paper

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Note (General)：: January 2014. Revised November 2014. Secondary Revised June 2017.This paper presents a two-country two-commodity dynamic model where one country achie...

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Paper

Material Type: 文書・図像類
Title: Macroeconomic interdependence between a stagnant and a fully employed country
Author/Editor: Ono, Yoshiyasu
Author Heading: Ono, Yoshiyasu
https://nrid.nii.ac.jp/nrid/1000070130763
Publication, Distribution, etc.: The Institute of Social and Economic Research, Osaka University
Publication Date: 2017-06
Publication Date (W3CDTF): 2017-06
Periodical title: Institute of Social and Economic Research Discussion Papers
No. or year of volume/issue: 893
Volume: 893
Pages: 1-39
Text Language Code: eng
Subject Heading: secular stagnation
unemployment
wealth preference
current account
fiscal expansion
Target Audience: 一般
Note (General): January 2014. Revised November 2014. Secondary Revised June 2017.
This paper presents a two-country two-commodity dynamic model where one country achieves full employment and the other suffers from secular stagnation of aggregate demand. Own and spill-over effects of changes in preference, productivity and policy parameters are examined. Parameter changes that improve the stagnant country’s current account, such as a reduction in government purchases, a decrease in foreign aid and an improvement in productivity, raise the relative price of the home commodity. Consequently, home employment shrinks, deflation worsens and consumption decreases. The terms of trade for the full-employment country deteriorate. Thus, income and consumption decrease in both countries.
References (URI): https://www.iser.osaka-u.ac.jp/library/dp/2014/DP0893RR.pdf
URI
https://www.iser.osaka-u.ac.jp/library/dp/2014/DP0893RR.pdf
Data Provider (Database): 国立情報学研究所 : 学術機関リポジトリデータベース（IRDB）（機関リポジトリ）
https://irdb.nii.ac.jp
Original Data Provider (Database): 大阪大学 : 大阪大学学術情報庫　桜華