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

Ono, Yoshiyasu

Institute of Social and Economic Research Discussion Papers, 2014, 893, 1-22

アクセス数:234件（2025-07-06 10:23 集計）

固定URL: https://hdl.handle.net/11094/27108

論文情報

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タイトル
Exchange-rate Adjustment and Macroeconomic Interdependence Between Stagnant and Fully Employed Countries
著者
NRID
1000070130763 1000070130763
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Scopus Author ID
7402959644 7402959644
著者名
Ono, Yoshiyasu
キーワード等
long-run unemployment
fiscal expansion
current account
liquidity trap
exchange rate
抄録
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.
出版者
The Institute of Social and Economic Research, Osaka University
収録物名
Institute of Social and Economic Research Discussion Papers
巻(号)
893
ページ
1-22
刊行年月
2014-01
言語
英語
ハンドルURL
https://hdl.handle.net/11094/27108
関連情報 (references)
URI
https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/2014/DP0893.pdf
アクセス権
metadata only access
カテゴリ
ディスカッション／ワーキング・ペーパー DP/WP
Institute of Social and Economic Research Discussion Papers