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| Author: | Goudie, A. W. Meeks, G. |
| Title: | The exchange rate and company failure in a macro-micro model of the UK company sector |
| Journal: | Economic Journal
1991 : MAY, VOL. 101:406, p. 444-457 |
| Index terms: | COMPANY FAILURES UNITED KINGDOM MACROECONOMICS MICROECONOMICS MODELS EXCHANGE RATES |
| Language: | eng |
| Abstract: | Some models used for company failure analysis are overviewed briefly, and a new one is proposed that focuses on one key macroeconomic variable, the exchange rate. A subsequent link in the chain is explored, the effects of high exchange rate on company failure with its short and long term implications for economic capacity and hence for the economy's liability to recover from a short-run setback. After a discussion of definitions, the macro-micro model that has been developed is outlined, to trace these effects. Some warnings are also presented concerning this model. An application of the model is reported: simulation exercises chart the changing incidence of potential failure among major firms as assumptions about the exchange rate are varied. |
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