Policy Choices in an Open Economy
Some Dynamic Considerations
Bibliographic Data
| ID | 10182582 |
|---|---|
| Authors | Sven W Arndt (Claremont Colleges, corresponding author) |
| Year | 1973 |
| Volume | 81 |
| Issue | 4 |
| Pages | 916-935 |
| Publication date | 1973-07-01 |
| 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 | 10.1086/260088 |
| OpenAlex | W1994985270 |
| Language | EN |
| Citations received | 1 |
| References cited | 4 |
Decision rules for stabilization policy in an open economy are examined under alternative specifications of the balance of payments. In particular, distinction between interest-sensitive debt capital and equity capital which responds to an activity variable alters the comparative static properties of instrument assignment. Various aspects of dynamic adjustment are further investigated in a context in which time is endogenous and in which the decision process minimizes a criterion function. It is shown that traditional one-to-one pairing of targets and controls may be inferior to assignment of clusters of instruments to some targets for specified time intervals
Balance (ability · Balance of payments · Capital (architecture · Comparative statics · Context (archaeology · Debt · Economics · Equity (law · Function (biology · Macroeconomics · Microeconomics · Monetary policy · Open economy · Process (computing · Small open economy · Variable (mathematics · Banking stability, regulation, efficiency · Computer Science · Global Financial Crisis and Policies · Monetary Policy and Economic Impact
| Citations per year | 0.06 |
|---|---|
| Citation span | 2009 - 2009 (1) |
| Highly cited | No |