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dc.creatorBajo Rubio, Óscares_ES
dc.creatorDíaz Roldán, Carmenes_ES
dc.description.abstractThe objective of this paper is to develop a general framework for the macroeconomic modelling of monetary unions, which could be useful for policy analysis, as well as for teaching purposes. Our starting point will be the standard two-country Mundell-Fleming model with perfect capital mobility, extended to incorporate the supply side, and modified so that the money market is common for two countries forming a monetary union. The model is presented in two versions: for a small and a big monetary union, respectively. After solving each model, we will derive multipliers for monetary, real (i. e., demand-side), supply, and external shocks, paying a special attention to the distinction between symmetric and asymmetric shocks. A graphical analysis is also provided.en
dc.description.sponsorshipThe authors would like to thank the Spanish Ministry of Education for financial support, through the Project PB98-0546-C02-01.en
dc.format.extent43 p.
dc.relation.ispartofseriesDocumentos de Trabajo DE - ES Lan Gaiakes
dc.rightsCC Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)en
dc.titleA general framework for the macroeconomic analysis of monetary unionsen
dc.typeDocumento de trabajo / Lan gaiakes
dc.rights.accessRightsAcceso abierto / Sarbide irekiaes

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CC Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)
Except where otherwise noted, this item's license is described as CC Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)

El Repositorio ha recibido la ayuda de la Fundación Española para la Ciencia y la Tecnología para la realización de actividades en el ámbito del fomento de la investigación científica de excelencia, en la Línea 2. Repositorios institucionales (convocatoria 2020-2021).
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