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- DescriptionThe book develops a general framework for the macroecomic modeling of monetary unions. The starting point of the analysis is the standard two-country Mundell-Fleming model with perfect capital mobility, extended to incorporate the supply side in a context of rigid real wages, and modified so that the money market is common for two countries forming a monetary union. The model is presented in two versions: for a small and a large monetary union, respectively. After solving each model, the authors derive multipliers for monetary, expenditure, supply, and external shocks, both in the short and the long run; a graphical analysis is also provided. Special attention is paid to the crucial distinction between symmetric and asymmetric shocks.
- Author BiographyOscar Bajo-Rubio is Professor of Economics at the University of Castilla-La Mancha and currently President of the Spanish Association of International Economics and Finance. Carmen Diaz-Roldan is Associate Professor of Economics at the same University.
- Author(s)Carmen Diaz-Roldan,Oscar Bajo-Rubio
- PublisherSpringer-Verlag Berlin and Heidelberg GmbH & Co. KG
- Date of Publication01/04/2011
- SubjectEconomics: Professional & General
- Series TitleSpringerBriefs in Economics
- Place of PublicationBerlin
- Country of PublicationGermany
- ImprintSpringer-Verlag Berlin and Heidelberg GmbH & Co. K
- Content Note4 black & white tables, biography
- Weight113 g
- Width155 mm
- Height235 mm
- Spine5 mm
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