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Author Bajo Rubio, Oscar.

Title Macroeconomic analysis of monetary unions : a general framework based on the Mundell-Fleming model / Oscar Bajo-Rubio, Carmen Díaz-Roldán
Published Heidelberg ; New York : Springer, [2011]
Online access available from:
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Description 1 online resource (vii, 49 pages)
Series SpringerBriefs in economics, 2191-5504
SpringerBriefs in economics. 2191-5504
Contents Introduction -- The Model: Description of the Model; A Macroeconomic Model for a Monetary Union; Characterization of the Shocks.-The Model for a Small Monetary Union: Shock Multipliers; Graphical Analysis -- The Model for a Large Monetary Union: Shock Multipliers; Graphical Analysis -- Conclusions -- Appendix
Summary The book develops a general framework for the macroeconomic 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
Bibliography Includes bibliographical references
Notes Print version record
Subject Monetary unions.
Form Electronic book
Author Díaz-Roldán, Carmen.
ISBN 9783642194450 (electronic bk.)
3642194451 (electronic bk.)