The specification and influence of goods and factor markets in open-economy macroeconomic models
In: Handbook of International Economics
This paper explores the structure and specification of goods and factor markets in open economy macro models. Simple benchmark models are set up which abstract entirely from market structure and focus on goods market structure. These real and monetary factors are combined in a full employment context, then in an unemployment/ variable output context. We consider some applications of specie-flow mechanisms and the purchasing power parity doctrine.
(This abstract was borrowed from another version of this item.)
|This chapter was published in: ||This item is provided by Elsevier in its series Handbook of International Economics with number
2-16.||Handle:|| RePEc:eee:intchp:2-16||Contact details of provider:|| Web page: http://www.elsevier.com/wps/find/bookseriesdescription.cws_home/BS_HE/description|