Zervoyianni, Athina (1989) Studies on macroeconomic adjustment in open-economies. PhD thesis, University of Warwick.

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Abstract

This thesis attempts to focus on several 'unresolved' issues that exist in the field of open-economy macroeconomics. 41 Chapter 2 examines the implications of1currency substitution, (CS) for the behaviour of a small open economy, subsequent to an unanticipated contraction in the domestic money supply. Chapter 3 concentrates on the role of CS, capital mobility and price stickiness in the international transmission of disturbances. Chapter 4 explores how the degree of openness of national economies might influence the relationships among exchange rates, price levels, interest rates and international balances of payment. Chapter 5 examines the relative effectiveness of various simple policy rules for economic stabilization, under alternative assumptions about the degree of openness of individual economies. In Chapter 6 we study the behaviour of a semi-small open economy subsequent to (unanticipated) increases in foreign interest rates, using a model in which some of the key characteristics of the major debtor countries are incorporated. In Chapter 7 we analyse the effects of exogenous financial disturbances on the economy of a debtor country, under alternative assumptions about the nature of its external debt. Chapter 1 attempts to provide a "background' for the analysis in the remainder of the thesis, by discussing some of the developments in the theoretical literature and in the world economy that have motivated our study.

Item Type:	Thesis or Dissertation (PhD)
Subjects:	H Social Sciences > HB Economic Theory
Library of Congress Subject Headings (LCSH):	Macroeconomics, Currency substitution, Economic stabilization
Date:	May 1989
Institution:	University of Warwick
Theses Department:	School of Industrial and Business Studies
Thesis Type:	PhD
Publication Status:	Unpublished
Supervisor(s)/Advisor:	Miller, Marcus, 1941-
Sponsors:	Greek State Scholarship Foundation
Extent:	[4], 275 leaves
Language:	eng
URI:	http://wrap.warwick.ac.uk/id/eprint/4181

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