Scientific Research An Academic Publisher
OPEN ACCESS
Add your e-mail address to receive free newsletters from SCIRP.
Select Journal AA AAD AAR AASoci AAST ABB ABC ABCR ACES ACS ACT AD ADR AE AER AHS AID AiM AIT AJAC AJC AJCC AJCM AJIBM AJMB AJOR AJPS ALAMT ALC ALS AM AMI AMPC ANP APD APE APM ARS ARSci AS ASM BLR CC CE CellBio ChnStd CM CMB CN CRCM CS CSTA CUS CWEEE Detection EMAE ENG EPE ETSN FMAR FNS GEP GIS GM Graphene GSC Health IB ICA IIM IJAA IJAMSC IJCCE IJCM IJCNS IJG IJIDS IJIS IJMNTA IJMPCERO IJNM IJOC IJOHNS InfraMatics JACEN JAMP JASMI JBBS JBCPR JBiSE JBM JBNB JBPC JCC JCDSA JCPT JCT JDAIP JDM JEAS JECTC JEMAA JEP JFCMV JFRM JGIS JHEPGC JHRSS JIBTVA JILSA JIS JMF JMGBND JMMCE JMP JPEE JQIS JSBS JSEA JSEMAT JSIP JSS JSSM JST JTR JTST JTTs JWARP LCE MC ME MI MME MNSMS MPS MR MRC MRI MSA MSCE NJGC NM NR NS OALib OALibJ ODEM OJA OJAB OJAcct OJAnes OJAP OJApo OJAppS OJAPr OJAS OJBD OJBIPHY OJBM OJC OJCB OJCD OJCE OJCM OJD OJDer OJDM OJE OJEE OJEM OJEMD OJEpi OJER OJF OJFD OJG OJGas OJGen OJI OJIC OJIM OJINM OJL OJM OJMC OJMetal OJMH OJMI OJMIP OJML OJMM OJMN OJMP OJMS OJMSi OJN OJNeph OJO OJOG OJOGas OJOp OJOph OJOPM OJOTS OJPathology OJPC OJPChem OJPed OJPM OJPP OJPS OJPsych OJRA OJRad OJRD OJRM OJS OJSS OJSST OJST OJSTA OJTR OJTS OJU OJVM OPJ POS PP PST PSYCH SAR SCD SGRE SM SN SNL Soft SS TEL TI UOAJ VP WET WJA WJCD WJCMP WJCS WJET WJM WJNS WJNSE WJNST WJV WSN YM
More>>
M. Otaki, “The Dynamically Extended Keynesian Cross and the Welfare-Improving Fiscal Policy,” Economics Letters, Vol. 96, No. 1, 2007, pp. 23-29. doi:10.1016/j.econlet.2006.12.005
has been cited by the following article:
TITLE: A Keynesian Model of a Small Open Economy under a Flexible Exchange Rate
AUTHORS: Masayuki Otaki
KEYWORDS: Employment-Isolation Effect; Laursen-Metzler Effect; An Open Macroeconomic Model with Analytical and Dynamic Microeconomic Foundation
JOURNAL NAME: Theoretical Economics Letters, Vol.2 No.3, August 2, 2012
ABSTRACT: This article considers the international diffusion of business cycles on the basis of a rigorous dynamic microeconomic foundation. The seminal work of Laursen and Metzler [1] suggests that the employment-isolation effect under the flexible exchange rate system is imperfect even if international capital mobility is completely prohibited. Assuming a small country model rather than the two-country model of Laursen and Metzler [1], we obtain the following results. (i) The business fluctuation of the world economy diffuses to the small country through a change in the inflation rate caused by the change in the real exchange rate. In this sense, the employment isolation is imperfect. (ii) Domestic monetary expansion has only an effect weaker than that of Mundell [2]-Fleming [3]. This is because a monetary expansion, which always accompanies a fiscal expansion, raises the current domestic price and lowers the inflation rate as long as the purchasing power of money (the inverse of future price) is kept intact. Such disinflation reduces the consumption demand in addition reducing the expansionary multiplier effect.
Related Articles:
The Role of Fiscal Policy in Spain from 2007 to 2010 and the Influence of Aggregate Public Spending on Economic Growth
M. Àngels Cabasés Piqué, Joan Ridao Martín
DOI: 10.4236/ojbm.2013.13009 4,123 Downloads 7,189 Views Citations
Pub. Date: October 28, 2013
Comment on the Paper “Condom-Assisted Transurethral Resection: A New Surgical Technique for Urethral Tumor”, Surgical Science, Vol. 1, 2010, pp. 46-48
Guven Aslan
DOI: 10.4236/ss.2011.24042 4,538 Downloads 7,507 Views Citations
Pub. Date: June 23, 2011
Ramsey’s Belief and the Plausibility of Keynesian Economics
Masayuki Otaki
DOI: 10.4236/tel.2015.56084 4,007 Downloads 4,424 Views Citations
Pub. Date: December 10, 2015
Fiscal Policy and Optimal Immigration Quotas
Ismaël Issifou, Francesco Magris
DOI: 10.4236/tel.2014.47072 2,562 Downloads 3,020 Views Citations
Pub. Date: August 8, 2014
Fiscal Policy and Economic Cycles in Congo
Antoine Ngakosso
DOI: 10.4236/me.2018.91011 695 Downloads 1,572 Views Citations
Pub. Date: January 18, 2018