LIquidity and real activity in a simple open economy model

Article Abstract:

There have been numerous studies on the dynamic open-economy equilibrium models of international business cycles and their qualitative implications. A closed-economy model by R.E. Lucas is particularly suited to the study of open economies since they focus on differential participation across different agent types or sectors in the absorption of money supply innovations. An open-economy version of Lucas' model is presented.

Equilibrium (Economics)

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Seasonal cycles, business cycles, and monetary policy

Article Abstract:

Research is presented concerning the development of a model for the prediction of business and seasonal cycle facts in the economy of the US. The influence of transaction technology and consumption durability are discussed.

United States, Consumption (Economics), Business cycles, Seasonal variations (Economics)

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Open mouth operations

Article Abstract:

Research is presented concerning the implementation of monetary policy through the statements of central banks rather than through open market operations. The monetary policy of New Zealand is discussed.

Economic aspects, New Zealand, Open market operations

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