Stabilization policy in an open economy

被引：5
|
作者：
Andersen, TM
Holden, S
机构：
[1] Aarhus Univ, Dept Econ, Sch Econ & Management, DK-8000 Aarhus, Denmark
[2] Univ Oslo, Dept Econ, N-0317 Oslo, Norway
来源：
JOURNAL OF MACROECONOMICS | 2002年 / 24卷 / 03期
关键词：
stabilization policy; fiscal policy; aggregate risk; social insurance;
D O I：
10.1016/S0164-0704(02)00039-3
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The scope for an active demand management policy is considered for a small open economy. Business cycle fluctuations generated by supply and demand shocks are shown to imply welfare losses when agents are risk averse and the capital market incomplete. Public demand for non-tradeables has real effects and there is a welfare case for pursuing a demand management policy which stabilizes consumption. It is argued that this type of stabilization can be attained via automatic stabilizers based on nominal budgeting rules. (C) 2002 Elsevier Science Inc. All rights reserved.
引用
收藏
页码：293 / 312
页数：20
相关论文
共 50 条
  • [31] FINANCIAL REFORM AND STABILIZATION POLICY IN A DEVELOPING-ECONOMY
    MATHIESON, DJ
    [J]. JOURNAL OF DEVELOPMENT ECONOMICS, 1980, 7 (03) : 359 - 395
  • [32] Stabilization Policy in an Economy with Two Exchange Rate Regimes
    Arndt, Sven W.
    [J]. GLOBAL ECONOMY JOURNAL, 2012, 12 (02):
  • [33] Investment and interest rate policy in the open economy
    McKnight, Stephen
    [J]. OXFORD ECONOMIC PAPERS-NEW SERIES, 2011, 63 (04): : 673 - 699
  • [34] Monetary policy and welfare in a small open economy
    De Paoli, Bianca
    [J]. JOURNAL OF INTERNATIONAL ECONOMICS, 2009, 77 (01) : 11 - 22
  • [35] Robust monetary policy in a small open economy
    Leitemo, Kai
    Soederstrom, Ulf
    [J]. JOURNAL OF ECONOMIC DYNAMICS & CONTROL, 2008, 32 (10): : 3218 - 3252
  • [36] OPTIMAL ECONOMIC POLICY AND GROWTH IN AN OPEN ECONOMY
    Casares, Enrique R.
    Garcia-Salazar, Maria Guadalupe
    [J]. JOURNAL OF DYNAMICS AND GAMES, 2023, 10 (04): : 287 - 303
  • [37] Unconventional Monetary Policy in a Small Open Economy
    Margaux MacDonald
    Michał Ksawery Popiel
    [J]. Open Economies Review, 2020, 31 : 1061 - 1115
  • [38] Environmental Policy and Firm Selection in the Open Economy
    Egger, Hartmut
    Kreickemeier, Udo
    Richter, Philipp M.
    [J]. JOURNAL OF THE ASSOCIATION OF ENVIRONMENTAL AND RESOURCE ECONOMISTS, 2021, 8 (04) : 655 - 690
  • [39] Is Monetary Policy in an Open Economy Fundamentally Different?
    Monacelli, Tommaso
    [J]. IMF ECONOMIC REVIEW, 2013, 61 (01) : 6 - 21
  • [40] The open economy consequences of US monetary policy
    Bluedorn, John C.
    Bowdler, Christopher
    [J]. JOURNAL OF INTERNATIONAL MONEY AND FINANCE, 2011, 30 (02) : 309 - 336
12345