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An Intertemporal Ma...
An Intertemporal Macroeconomic Model with Oil and Fiscal Policy
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- Fender, John (author)
- Department of Economics, University of Lancaster
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- Nandakumar, Parameswar (author)
- Stockholms universitet,Institutet för internationell ekonomi
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(creator_code:org_t)
- Stockholm : IIES, 1985
- English 33 s.
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Series: Seminar Paper / Institute for International Economic Studies, Stockholm University, 0347-8769 ; 313
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Abstract
Subject headings
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- In this paper a two-period two-good open economy macroeconomic model is constructed. Consumption and money holding decision are based on intertemporal optimization. In the first period (in the 'short-un') some prices are inflexible and Keynesian unemployment occurs. In the second period (in the 'long-run') all prices are flexible and markets clear. The model is used to analyze fiscal policy (paying careful attention to the implications of the government's budget constraint), increased domestic output of a resource (oil) and the consequences of a rise in the world price of the resource.
Subject headings
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Economics (hsv//eng)
Keyword
- Economics
- Nationalekonomi
Publication and Content Type
- vet (subject category)
- rap (subject category)
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