Korreferat zu: Jürgen Roth, Internationale Konjunkturübertragungen und nationale Stabilisierungspolitiken bei flexiblen Wechselkursen in einem Zwei-Länder-Modell
Year: 1977
Author: Graf, Gerhard
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 97 (1977), Iss. 4 : pp. 339–349
Abstract
A critical analysis of Roth's approach shows that his system, which allows for the flexibility of prices, is an extension of a fixed price model without, however, making allowance for the flexibility of prices in a consistent way throughout the whole model. This may lead to serious biases in the results. Roth's approach does not take account of important contributions to macroeconomic model building as for instance a government budget restraint and a full-fledged asset market. The nature of economic impulses that lead to business cycles is not made clear enough.
Journal Article Details
Publisher Name: Global Science Press
Language: Multiple languages
DOI: https://doi.org/10.3790/schm.97.4.339
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 97 (1977), Iss. 4 : pp. 339–349
Published online: 1977-04
AMS Subject Headings: Duncker & Humblot
Copyright: COPYRIGHT: © Global Science Press
Pages: 11
Author Details
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