Der Einfluß des Volkseinkommens auf die Zahlungsbilanz
JOURNAL ARTICLE
Cite JOURNAL ARTICLE
Style
Format
Der Einfluß des Volkseinkommens auf die Zahlungsbilanz
Ergebnisse eines monetären und keynesianischen Ansatzes
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 97 (1977), Iss. 4 : pp. 289–308
Additional Information
Article Details
Jarchow, Hans-Joachim
References
-
Ciaassen, E. M. (1975), Der monetäre Ansatz der Zahlungsbilanztheorie, Weltwirtschaftliches Archiv 111 (1975), S. 1-23.
Google Scholar -
Fleming, M. (1962), Domestic Financial Policies under Fixed and under Floating Exchange Rates, International Monetary Fund, Staff Papers 9 (1962), S. 369 - 380.
Google Scholar -
Johnson, H. G. (1975), Inflation. Theorie und Politik, München 1975.
Google Scholar -
Kemp, D. S. (1975), A Monetary View of Balance of Payments, Federal Reserve Bank of St. Louis Review 57 (1975), S. 14 - 22.
Google Scholar -
Mundell, R. A. (1961), The International Disequilibrium System, Kyklos 14 (1961), S. 153 - 172.
Google Scholar
Abstract
This article deals with the hypothesis that the Keynesian approach to balance of payments theory implies a contradiction to the monetary approach which states that an increase in real income results in a balance of payments surplus. It is shown here that a generalised Keynesian model of an open economy is compatible with surpluses as well as deficits due to a rise in real income. The conditions under which a deficit or a surplus in the overall balance (under a regime of flexible exchange rates: a revaluation or a devaluation) occurs, are specified.