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Interregional Income Determination: A Graphical Analysis for Interdependent Economies

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  • Cebula, Richard

Abstract

This theoretical analysis develops a model for analyzing public policy in interdependent economies. The model allows for feed-backs between the commodity, money, and labor markets in all of the economic systems. Regionally oriented monetary policies are fully analyzed, as are regional oriented fiscal policies. In both cases, the feed-back mechanisms and iterative processes of approaching full equilibrium in all markets is demonstrated. The process of economic forecasting for interdependent economies is also provided.

Suggested Citation

  • Cebula, Richard, 1971. "Interregional Income Determination: A Graphical Analysis for Interdependent Economies," MPRA Paper 52074, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:52074
    as

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    References listed on IDEAS

    as
    1. Robert A. Mundell, 1960. "The Monetary Dynamics of International Adjustment under Fixed and Flexible Exchange Rates," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 74(2), pages 227-257.
    2. Paul K. Gatons & Richard J. Cebula, 1972. "Wage-Rate Analysis: Differentials and Indeterminacy," ILR Review, Cornell University, ILR School, vol. 25(2), pages 207-212, January.
    3. Akira Takayama, 1969. "The Effects of Fiscal and Monetary Policies under Flexible and Fixed Exchange Rates," Canadian Journal of Economics, Canadian Economics Association, vol. 2(2), pages 190-209, May.
    4. Ronald B. Gold, 1968. "Interregional Factor Transfers and Regional Unemployment," Journal of Political Economy, University of Chicago Press, vol. 76(2), pages 246-246.
    5. Kaldor, Nicholas, 1970. "The Case for Regional Policies," Scottish Journal of Political Economy, Scottish Economic Society, vol. 17(3), pages 337-348, November.
    6. Curtis C. Harris Jr. & Martin C. McGuire, 1969. "Planning Techniques for Regional Development Policy," Journal of Human Resources, University of Wisconsin Press, vol. 4(4), pages 466-490.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    interdependent economics; feed-back mechanism; dynamic approach to equilibrium;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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