Exchange-rate Adjustment and Macroeconomic Interdependence Between Stagnant and Fully Employed Countries

Material type: 文書・図像類

Author: Ono, Yoshiyasu

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

Publication date: 2014-01

Material Format: Paper

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Note (General)：: This paper presents a two-country two-commodity dynamic model with free international asset trade in which one country achieves full employment and th...

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Paper

Material Type: 文書・図像類
Title: Exchange-rate Adjustment and Macroeconomic Interdependence Between Stagnant and Fully Employed Countries
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: 2014-01
Publication Date (W3CDTF): 2014-01
Periodical title: Institute of Social and Economic Research Discussion Papers
No. or year of volume/issue: 893
Volume: 893
Pages: 1-22
Text Language Code: eng
Subject Heading: long-run unemployment
fiscal expansion
current account
liquidity trap
exchange rate
Target Audience: 一般
Note (General): This paper presents a two-country two-commodity dynamic model with free international asset trade in which one country achieves full employment and the other suffers long-run unemployment. Own and spill-over effects of changes in policy, technological and preference parameters that emerge through exchange-rate adjustment are examined. Parameter changes that worsen the stagnant country’s current account depreciate the home currency, expand home employment and improve the foreign terms of trade, making both countries better off. The stagnant country’s foreign aid to the fully employed country also yields the same beneficial effects.
References (URI): http://www.iser.osaka-u.ac.jp/library/dp/2014/DP0893.pdf
URI
http://www.iser.osaka-u.ac.jp/library/dp/2014/DP0893.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