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Nontraded Goods and Macroeconomic Policy Under a Fixed Exchange Rate

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  • Elhanan Helpman

Abstract

I. Introduction, 469—II. The analytical framework, 469.—III. Fiscal policy, 473.—IV. Exchange rate adjustments, 475.—V. Summary, 478.—Appendix A: Proof of Proposition 1,479.—Appendix B: Proof of Proposition 2,480.

Suggested Citation

  • Elhanan Helpman, 1977. "Nontraded Goods and Macroeconomic Policy Under a Fixed Exchange Rate," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 91(3), pages 469-480.
    • Handle: RePEc:oup:qjecon:v:91:y:1977:i:3:p:469-480.
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    Cited by:

    1. Batavia, Bala & Nandakumar, Parameswar, 2017. "The equivalence of export subsidies and import tariff reductions in a macroeconomic model," The Journal of Economic Asymmetries, Elsevier, vol. 15(C), pages 76-80.
    2. Ganguly, Shrimoyee & Acharyya, Rajat, 2022. "Devaluation, Export Quality and Employment in A Small Dependent Economy," Journal of Economic Development, The Economic Research Institute, Chung-Ang University, vol. 47(1), pages 137-165, March.
    3. Lane, Philip R. & Perotti, Roberto, 2003. "The importance of composition of fiscal policy: evidence from different exchange rate regimes," Journal of Public Economics, Elsevier, vol. 87(9-10), pages 2253-2279, September.
    4. Michael Bruno, 1982. "Import Competition and Macroeconomic Adjustment under Wage-Price Rigidity," NBER Chapters, in: Import Competition and Response, pages 9-38, National Bureau of Economic Research, Inc.
    5. Aizenman, Joshua & Frenkel, Jacob A., 1988. "Sectorial wages and the real exchange rate," Journal of International Economics, Elsevier, vol. 24(1-2), pages 69-91, February.
    6. Marois, William, 1986. "Théorie du déséquilibre et politique économique en économie ouverte," L'Actualité Economique, Société Canadienne de Science Economique, vol. 62(2), pages 257-288, juin.
    7. Ganguly, Shrimoyee & Acharyya, Rajat, 2021. "Deficit versus balanced budget financing of ICT Infrastructure and Export Quality," Journal of Asian Economics, Elsevier, vol. 77(C).
    8. Fung, Michael Ka-Yiu, 1996. "Who pays for fiscal expansion? Distributional effects of fiscal spending in a small open economy with foreign capital," Journal of Macroeconomics, Elsevier, vol. 18(4), pages 715-726.
    9. Shrimoyee Ganguly & Rajat Acharyya, 2024. "Money, exchange rate and export quality," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 33(1), pages 118-144, January.
    10. Polackova, Hana, 1997. "Inflation in nontradables and the macroeconomic policy mix : a model with policy application to transition economies," Policy Research Working Paper Series 1702, The World Bank.
    11. Ulrich Kohli & Jean-Marc Natal, 2014. "The real exchange rate and the structure of aggregate production," Journal of Productivity Analysis, Springer, vol. 42(1), pages 1-13, August.
    12. Ganguly, Shrimoyee, 2023. "Money, Exchange rate and Wage Inequality," MPRA Paper 116374, University Library of Munich, Germany.

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