Franz Gehrels

Essays in Macroeconomics of an Open Economy (eBook, PDF)

• Format: PDF

Produktbeschreibung

This macroeconomic study examines in a growth context the international feedbacks and constraints on house- holds' and firms' decisions, treated as time-optimizing problems under risk aversion. The economy finds its full-employment time-path only via monetary and fiscal measures, and exchange-rate adjustment.

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Produktdetails

• Verlag: Springer Berlin Heidelberg
• Seitenzahl: 183
• Erscheinungstermin: 6. Dezember 2012
• Englisch
• ISBN-13: 9783642956591
• Artikelnr.: 53390129

Inhaltsangabe

I The Growth Path.- A. Allocation under Full Employment.- B. Allocation with Underemployment.- II On Aggregate Stability of Closed and Open Economies.- A The Closed Economy.- B. The Open Economy.- C. Concluding Remarks.- III Underutilized Resources.- A. The Case of Full Complementarity.- B. An Economy with Mixed Forms of Production.- C. Concluding Remarks.- IV Risk Averse, Time Optimizing Behavior of Households: Comparison With German Microcensus Data.- A. A Risk-Averse Time-Optimizing Model.- B. Comparison with Some Evidence.- C. Concluding Remarks.- V Investment Behavior In An Open Economy.- A. Price, Output, and Factor-Combination Decisions of the Firm.- B. Investment Decisions.- C. The Investment Function in Three Sectors.- D. Changing Investment under Full Employment.- E. Risk Aversion and Risk Avoidance.- VI The Labor Market And Wage Determination.- A. The Wage Rate Endogenous.- B. The Wage Rate as Exogenous Variable.- C Money Wages and the Rate of Inflation.- D. Real Wage Determination under Full Employment.- E. Summary.- VII The Market For Financial Assets And Monetary Policy.- A. Characterization of the Monetarist View.- VIII Growth Once More: Income And Claims To Wealth.- A. Claims to Wealth.- B. Growth of Public Debt and Debt Service.- C. External Claims.- D. The International Exchange of Assets.- Author Index.