Money and the open economy business cycle
1986
Flood, Robert P. | Hodrick, Robert J.
This paper develops an open-economy model of the business cycle. The.
显示更多 [+] 显示较少 [-]Nominal prices in the model are flexible and monetary nonneutrality is.
显示更多 [+] 显示较少 [-]Developed using information confusion about the sources of disturbances to.
显示更多 [+] 显示较少 [-]Demand coupled with differential persistence of demand shocks. Firms use.
显示更多 [+] 显示较少 [-]Inventories to smooth their production, and consumers follow a stochastic.
显示更多 [+] 显示较少 [-]Permanent income expenditure function. The major implication of the model.
显示更多 [+] 显示较少 [-]Is that unperceived monetary disturbances improve the terms of trade and.
显示更多 [+] 显示较少 [-]Increase real output in contrast to sticky price models in which the terms.
显示更多 [+] 显示较少 [-]Of trade deteriorates. This implication of the model is examined.
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