Essays in Macroeconomics of an Open Economy
The large aggregates in the economy - consumption, investment, production of the domestic and the international sectors, international capital flows, financial accumulation and indebtedness - are analysed in this book as problems in time-optimisation for enterprises and households. The effects of fi...
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| Format: | eBook |
| Language: | English |
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Berlin, Heidelberg
Springer Berlin Heidelberg
1991, 1991
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| Edition: | 1st ed. 1991 |
| Series: | Lecture Notes in Economics and Mathematical Systems
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| Subjects: | |
| Online Access: | |
| Collection: | Springer Book Archives -2004 - Collection details see MPG.ReNa |
Table of Contents:
- 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