OPEN-ECONOMY MACROECONOMICS UNDER IMPERFECT COMPETITION - A 2-COUNTRY MODEL

• 成果类型: Article
• 署名作者: FENDER, J; YIP, CK
• 署名单位: University System of Georgia; Georgia State University
• 刊物名称: JOURNAL OF INTERNATIONAL ECONOMICS
• ISSN/ISSBN: 0022-1996
• DOI: 10.1016/0022-1996(94)90024-8
• 发表日期: 1994
• 页码: 49-63
• 关键词: Macroeconomics; imperfect competition; Exchange rates

摘要

This paper constructs a two country macroeconomic model where prices are set by imperfectly competitive firms and wages by trade unions. Unemployment benefit is nominally rigid in at least one country. The effects of monetary expansion under both fixed and flexible exchange rates, and exchange rate changes under fixed rates, are considered. The results change significantly if it is assumed that in one country unemployment benefit is fully indexed.