Monetary policy and demand management for the small open economy in contemporary conditions with (perfectly) mobile capital
AbstractThis paper provides a theoretical framework within which to examine issues of macroeconomic policy autonomy for the small open economy in an increasingly global international environment. We show that substantial policy leverage continues to exist provided that the jurisdictions concerned maintain separate monetary systems, which ensures that the condition of perfect asset substitutability will fail to apply.
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Bibliographic InfoArticle provided by M.E. Sharpe, Inc. in its journal Journal of Post Keynesian Economics.
Volume (Year): 26 (2004)
Issue (Month): 4 (October)
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Web page: http://mesharpe.metapress.com/link.asp?target=journal&id=109348
exchange rates; globalization; interest rates; macroeconomic policy;
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- Porcile, Gabriel & de Souza, Alexandre Gomes & Viana, Ricardo, 2011. "External debt sustainability and policy rules in a small globalized economy," Structural Change and Economic Dynamics, Elsevier, vol. 22(3), pages 269-276, September.
- Elisabetta Michetti, & Domenica Tropeano,, 2008.
"Exchange rate policy and income distribution in an open developing economy,"
44-2008, Macerata University, Department of Finance and Economic Sciences, revised Nov 2008.
- Tropeano, Domenica & Michetti, Elisabetta, 2008. "Exchange rate policy and income distribution in an open developing economy," MPRA Paper 6642, University Library of Munich, Germany.
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