The Macroeconomics of Open Economies Under Labour Mobility

The Macroeconomics of Open Economies Under Labour Mobility
Author: George M Agiomirgianakis
Publisher: Routledge
Total Pages: 176
Release: 2019-05-29
Genre: Business & Economics
ISBN: 042980931X

First published in 1999, this study recognises the importance of international labour mobility for modern economics. This is in large part due to its effects on the size, age structure and skills of the labour force, the human flow between countries and the expected rise in scale as a result of income differentials, demographic pressures and differential labour-force growth rates along with developments in transport and communications. These migrations are increasingly volatile and unpredictable, whilst being concentrated in regions like Australia, the USA, Sub-Saharan Africa and Western Europe. Given the extensive literature on the microeconomic view, George M. Agiomirgianakis aims to extend the debate on open economy macroeconomics through an exploration of international labour mobilities and their effects on open economies with flexible exchange rates.

The Macroeconomics of Open Economies Under Labour Mobility

The Macroeconomics of Open Economies Under Labour Mobility
Author: George M Agiomirgianakis
Publisher: Routledge
Total Pages: 202
Release: 2019-05-29
Genre: Business & Economics
ISBN: 0429809301

First published in 1999, this study recognises the importance of international labour mobility for modern economics. This is in large part due to its effects on the size, age structure and skills of the labour force, the human flow between countries and the expected rise in scale as a result of income differentials, demographic pressures and differential labour-force growth rates along with developments in transport and communications. These migrations are increasingly volatile and unpredictable, whilst being concentrated in regions like Australia, the USA, Sub-Saharan Africa and Western Europe. Given the extensive literature on the microeconomic view, George M. Agiomirgianakis aims to extend the debate on open economy macroeconomics through an exploration of international labour mobilities and their effects on open economies with flexible exchange rates.

Efficiency Wages and Labor Mobility in an Open Economy

Efficiency Wages and Labor Mobility in an Open Economy
Author: Pierre-Richard Agénor
Publisher: International Monetary Fund
Total Pages: 42
Release: 1993-10-01
Genre: Business & Economics
ISBN: 1451850166

The paper analyzes the role of labor market segmentation and relative wage rigidity in the transmission process of macroeconomic shocks in a two-sector optimizing model of a small open economy. The analysis is first conducted in the context of perfect intersectoral labor mobility. The discussion is then extended to consider the existence of short-run constraints on labor movements. The results highlight the role of efficiency considerations in the behavior of sectoral wages. A deflationary policy induces a reallocation of labor across sectors, but has no long-run effect on the unemployment rate.

Open-Economy Macroeconomics

Open-Economy Macroeconomics
Author: Helmut Frisch
Publisher: Springer
Total Pages: 437
Release: 2016-07-27
Genre: Business & Economics
ISBN: 1349128848

The integration of market economies is one of the most remarkable features of international economics, which has important implications for macroeconomic performance in open economies. Equally important is the declining relevance of the real versus the monetary theory dichotomy. These papers focus on those aspects of monetary policy which relate to credibility and non-neutrality; the domestic adjustment to foreign shocks; the interdependence of open economies and their strategic interactions. An important section is also devoted to the innovative modelling of exchange rate dynamics.

Open Economy Macroeconomics

Open Economy Macroeconomics
Author: Asbjørn Rødseth
Publisher: Cambridge University Press
Total Pages: 404
Release: 2000-09-14
Genre: Business & Economics
ISBN: 9780521788748

Advanced textbook offering a broad survey of open economy macroeconomics within a unified framework. Rødseth reviews the theories used in government departments, central banks and financial institutions and that form the basis for most quantitative models of open economies. The resulting policy implications are also considered with reference to current European debate. In addition to the theoretical and policy analysis the book also contains a comprehensive survey of the current state of scholarship in this area.

Open Economy Macroeconomics

Open Economy Macroeconomics
Author: Rudiger Dornbusch
Publisher: New York : Basic Books
Total Pages: 312
Release: 1980
Genre: Business & Economics
ISBN:

Employment, the trade balance and relative prices; Money and payments adjustment; Assets markets, capital mobility, and stabilization policy; Portfolio balance and the current account.

The Open Economy Macromodel: Past, Present and Future

The Open Economy Macromodel: Past, Present and Future
Author: Arie Arnon
Publisher: Springer Science & Business Media
Total Pages: 347
Release: 2012-12-06
Genre: Business & Economics
ISBN: 1461510759

The impetus for the conference that was the basis for this volume emanated from the influence of two brilliant minds-Egon Sohmen and Adam Klug, who both died at an early age, leaving their families and the professions of economics and economic history with major voids. In the course of research on the origins of Open Economy Macroeconomics, the significant contributions of Egon Sohmen came to the fore. After correspondence with some of those involved in the early development of the Open Economy Macromodel, we turned to Adam Klug for his views on the matter-as he had dealt with the history of intertemporal trade models in his Ph. D. thesis. And it was Adam who suggested the idea of a conference bringing together economists and economic historians. At this point we want to acknowledge the very generous grant from the Egon Sohmen Foundation and the active participation of Dr. Helmut Sohmen and Mrs. Renee Sohmen at the conference. We also want to thank Prof. Sir Aaron Klug, Nobel Laureate, and the Klug family for their support and the financial contribution of the Adam Klug Memorial Lecture Fund at Ben Gurion University. Other institutions that contributed to the conference were the Gianni Foundation; Bank of Israel; University of North Carolina; Department of Economics, Faculty of Social Science and Aharon Meir Center for Banking, Bar Ilan University; Department of Economics and Faculty of Social Science, Ben-Gurion University of the Negev.

Trade, Growth, and Economic Policy in Open Economies

Trade, Growth, and Economic Policy in Open Economies
Author: Karl-Josef Koch
Publisher: Springer Science & Business Media
Total Pages: 398
Release: 2012-12-06
Genre: Business & Economics
ISBN: 3662004232

Part 1 of this volume focusses on globalization. Gains from trade, international competitiveness, labour market issues in open economies, customs unions, dumping and intra-firm trade are the topics of this part. Part 2 puts a stronger emphasis on dynamic economics. Social income, intergenerational transfers, public pension systems, and bequest and gift motives in overlapping generation models are main topics. Economic policies are analyzed in Part 3, including the relation between wage rigidity and migration, several aspects of German financial and monetary policy, as well as tax competition. The volume concludes with institutional issues of globalization, a western view on eastern transition, social cost of rent seeking, and the evolution of social institutions.

Essays in Macroeconomics of an Open Economy

Essays in Macroeconomics of an Open Economy
Author: Franz Gehrels
Publisher: Springer Science & Business Media
Total Pages: 194
Release: 2012-12-06
Genre: Business & Economics
ISBN: 3642956599

The large aggregates in the economy - consumption, investment, production of the domestic and the international sectors, international capital flows, financial accumulation and indebtedness - are analysed in this book as problems in time-optimisation for enterprises and households. The effects of fiscal and monetary policies along with exchange-rate variation are examined, and their simultaneous use for stabilizing demand are found to be necessary. All household decisions on consumptions, savings, and financial disposition are conditioned by uncertainty, and similarly for firms, who make more complex simultaneous decisions on production, real investment, financing, and market strategy. The marginal efficiency-of-investment function derived from these decisions is fundamentally different from the marginal productivity of capital in the neoclassical sense. An economy which grows through the accumulation of capital, increase in labor supply, and technological progress is the framework in which all of these variables move. This codetermines the allocation of factors between domestic and international production, and the development of foreign trade. The growth both of the public debt and of international investment are treated in depth.