search query: @author Whalley, J. / total: 19
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| Author: | Clarete, R. Whalley, J. |
| Title: | Foreign exchange premia and non-neutrality of monetary policy in general equilibrium models |
| Journal: | Journal of International Economics
1991 : FEB, VOL. 30:1/2, p. 153-166 |
| Index terms: | FOREIGN EXCHANGE MONETARY POLICY EQUILIBRIUM ANALYSIS MARKETS TRADE RATIONING |
| Language: | eng |
| Abstract: | A simple monetized extension of a traditional small country, real-side, general equilibrium trade model is presented, in which premia on foreign exchange occur. Monetary policy is non-neutral in the model, and has real effects. First the case of a small, open price-taking economy is considered, in which there is no production, all goods are traded, and the equilibrium structure in the presence of foreign exchange rationing is analysed. Then the simple model is extended to multiple /non-small/ countries, production and non-traded goods, tariffs, parallel /black/ markets, and quantitative restrictions. Some general equilibrium calculations for the Philippines are presented. |
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