Menu Expand

Internationale Konjunkturübertragungen und nationale Stabilisierungspolitiken bei flexiblen Wechselkursen in einem Zwei-Länder-Modell

Cite JOURNAL ARTICLE

Style

Roth, J. Internationale Konjunkturübertragungen und nationale Stabilisierungspolitiken bei flexiblen Wechselkursen in einem Zwei-Länder-Modell. Journal of Contextual Economics – Schmollers Jahrbuch, 97(4), 309-337. https://doi.org/10.3790/schm.97.4.309
Roth, Jürgen "Internationale Konjunkturübertragungen und nationale Stabilisierungspolitiken bei flexiblen Wechselkursen in einem Zwei-Länder-Modell" Journal of Contextual Economics – Schmollers Jahrbuch 97.4, 1977, 309-337. https://doi.org/10.3790/schm.97.4.309
Roth, Jürgen (1977): Internationale Konjunkturübertragungen und nationale Stabilisierungspolitiken bei flexiblen Wechselkursen in einem Zwei-Länder-Modell, in: Journal of Contextual Economics – Schmollers Jahrbuch, vol. 97, iss. 4, 309-337, [online] https://doi.org/10.3790/schm.97.4.309

Format

Internationale Konjunkturübertragungen und nationale Stabilisierungspolitiken bei flexiblen Wechselkursen in einem Zwei-Länder-Modell

Roth, Jürgen

Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 97 (1977), Iss. 4 : pp. 309–337

Additional Information

Article Details

Roth, Jürgen

References

  1. Bender, D., K. Rose und K. H. Sauernheimer, M. Feldsieper, N. K. A. Läufer, E. Sohmen (1976), Kommentare zu dem Artikel von E. Sohmen, Exchange Rates, Terms of Trade and Employment, in: Kyklos, 29 (1976), S. 118 - 140.  Google Scholar
  2. Casas, F. R. (1975), Efficient Macroeconomic Stabilization Policies under Floating Exchange Rates, in: International Economic Review, 16 (1975), S. 682 - 698.  Google Scholar
  3. Cramer, P. (1971), Der direkte internationale Preiszusammenhang — Ein Beitrag zur Theorie der importierten Inflation, Köln 1971.  Google Scholar
  4. Dernburg, T. F. und J. D. Dernburg (1969), Macroeconomic Analysis. An Introduction to Comparative Statics and Dynamics, Reading, Mass., Don Mills, Ont., 1969.  Google Scholar
  5. Fels, G. (1969), Der internationale Preiszusammenhang (Schriftreihe Annales Universitas Saraviensis, H. 46.), Köln 1969.  Google Scholar

Abstract

The analysis is based upon a Keynesian two-country system including markets for goods, factors and money and, moreover, including the import and export of inputs. It is stated that in many cases a definite answer cannot be given any longer to the question, in what direction the economy of one country is influenced by short-term distrubances abroad under a regime of flexible exchange rates. For example, the effect of a foreign fiscal policy impulse on the home economy is undetermined. In the case of an inflationary monetary policy abroad, the outcome is that - paradoxically - deflationary effects will occur in the home country, whereas the effect on real income and employment is ambiguous. If wage increases create rising prices and decreasing employment in one country, then the other country has to face an import of inflation. Such an import of price increases can be avoided if the economic policy authorities in the respective country adopt properly designed restrictive monetary or fiscal measures which, however, may imply a negative impact on the income and employment level. It has been shown that the results of this analysis can easily be compared with a number of well-known theorems concerning the international transmission of short-run fluctuations in economic activity. This is due to the fact that many of the familiar models - e. g. the Laursenl Metzler approach - are included as sub-systems in the model presented here.