Money and Economic Activity in the Open Economy
The United Kingdom, 1880-1970
Bibliographic Data
| ID | 10176582 |
|---|---|
| Authors | P D Jonson (corresponding author) |
| Year | 1976 |
| Volume | 84 |
| Issue | 5 |
| Pages | 979-1012 |
| Publication date | 1976-10-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0022-3808 • E-ISSN: 1537-534X |
| Publisher | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/260493 |
| OpenAlex | W2016776735 |
| Language | EN |
| Citations received | 8 |
| References cited | 6 |
This paper presents a highly aggregated structural macroeconomic model of the U.K. economy. The specification is based on the insights provided by recent theoretical work on the working of open economies, and provides the most complete answer yet offered on the reverse causation controversy in monetary economics. The key empirical findings include relatively high interest rates and price elasticities in the relevant behavioral equations and a significant disequilibrium real balance effect on a broad expenditure aggregate. The results of simulation analysis of the model are reported and throw light on Britain's relatively poor postwar macroeconomic performance
Aggregate (composite · Aggregate demand · Balance (ability · Causation · Disequilibrium · Economics · Economy · Exchange rate · Macroeconomics · Monetary economics · Monetary policy · Open economy · Work (physics · Economic Theory and Policy · Fiscal Policy and Economic Growth · Monetary Policy and Economic Impact
The Effect of Devaluation on the Balance of Payments and the Labour Market
Hoarding in General Equilibrium
On the Dynamics of Inflation and Unemployment in the Quantity Theory Framework
Testing for Financial Buffer Stocks in Sectoral Portfolio Models
The `Buffer Stock Notion in Monetary Economics
Re-Examining the Buffer-Stock Model of Money
Exchange rate versus credit policy
Recent Methodological Advances in Economic Equation Systems
| Unique citing works | 8 |
|---|---|
| Citations per year | 0,17 |
| Citation span | 1979 - 1990 (12) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 5 |