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Devaluation: Keynesian trade models and the monetary approach : the role of nominal and real wage rigidity
Schmid, Michael (1982): Devaluation: Keynesian trade models and the monetary approach : the role of nominal and real wage rigidity, in: European economic review : EER, Amsterdam: Elsevier, Jg. 17, Nr. 1, S. 27–50.
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Title of the Journal:
European economic review : EER
ISSN:
0014-2921
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Year of publication:
1982
Volume:
17
Issue:
1
Pages:
Language:
English
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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Type:
Article
Activation date:
February 14, 2024
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https://fis.uni-bamberg.de/handle/uniba/93501