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Creator: Miller, Preston J. and Todd, Richard M. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Department) Number: 481 Abstract:
This paper investigates the effects of changes in a country's monetary policies on its economy and the welfare of its citizens and those of other countries. Each country is populated by two-period lived overlapping agents who reside in either a home service sector or a world-traded good sector. Policy effects are transmitted through changes in the real interest rate, relative prices, and price levels. Welfare effects are sometimes dominated by relative price movements and can thus be opposite of those found in one-good models. Simulation of dynamic paths also reveals that welfare effects for some types of agents reverse between those born in immediate post-shock periods and those born later.
Mot-clé: Exchange rates, Real interest rates, Monetary policy, Prices, and Relative prices Assujettir: E31 - Price Level; Inflation; Deflation, F31 - Foreign Exchange, and E52 - Monetary Policy
Creator: Miller, Preston J. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Department) Number: 074 Mot-clé: Employment, Monetary policy, and Unemployment Assujettir: J21 - Labor Force and Employment, Size, and Structure and E52 - Monetary Policy
Creator: Miller, Preston J. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Department) Number: 220 La description:
Working paper 220 was presented at The Economic Consequences of Government Deficits: an Economic Policy Conference, cosponsored by the Center for the Study of American Business and the Institute of Banking and Financial Markets at Washington University, St. Louis, Missouri, October 29-30, 1982.
Mot-clé: Tax policy, Federal debt, Deficit, Inflation, and Budget policy Assujettir: H62 - National Deficit; Surplus, E52 - Monetary Policy, H63 - National Debt; Debt Management; Sovereign Debt, and E42 - Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systems