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Devaluation: Keynesian trade models and the monetary approach : the role of nominal and real wage rigidity
Schmid, Michael (2024): Devaluation: Keynesian trade models and the monetary approach : the role of nominal and real wage rigidity, in: Bamberg: Otto-Friedrich-Universität, S. 27–50, doi: 10.20378/irb-93502.
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Year of publication:
2024
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European economic review : EER 17 (1982), 1, S. 27-50. - ISSN: 0014-2921
Year of first publication:
1982
Language:
English
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Abstract:
Labor market assumptions provide the crucial ingredients by which we distinguish between a Keynesian and a classical monetary trade model (monetary approach). Domestic and foreign goods are perfect substitutes and the law of one price holds. This minimal model should be appreciated as an income-cum-price specie flow mechanism although the long-run equilibrating process is not discussed in any detail. The paper stresses the interplay between demand pull and cost-push factors as a result of exchange rate changes.
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Article
Activation date:
April 24, 2024
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https://fis.uni-bamberg.de/handle/uniba/93502