Openness and the effects of monetary policy

Article Abstract:

The effects of monetary policy on national productivity and price levels largely depend on the openness of the economy. However, economic analysts also believe that the openness of a nation's economy affects the potential of monetary policy to increase national output and productivity, without encouraging inflation and currency devaluation. Research studies were conducted using annual data from 38 countries for the duration of 1953-1990. Findings indicated that open economies tended to exhibit smaller output and larger inflation rates.

Administration of General Economic Programs, Economic Statistics & Research, Prices, Currency Stabilization Programs, Research, Economic aspects, Economic conditions, Economic development, Inflation (Finance), Interest rates, Monetary policy, Currency stabilization, Inflation (Economics)

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Private and government consumption with liquidity constraints

Article Abstract:

Liquidity constraints and substitutability or complementarity between private and government consumption may lead to excess sensitivity of private consumption to income and government consumption, respectively. There are indications that the degree of substitutability between government services and private consumption depends negatively on the fraction of government spending that is allotted to national defense. Furthermore, liquidity constraints are positively affected by output variability and negatively by the saving rate.

Consumption (Economics), Fiscal policy, Liquidity (Finance)

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International integration of capital markets and the cross-country divergence of per capita consumption

Article Abstract:

The implication of a perfectly mobile international capital market on cross- country divergence of per capita consumption is high in countries with unrestricted access in international markets while low when capital markets are not integrated. Divergence occurs in economies with representative agents and well-integrated capital markets. Countries such as Canada, UK and US have per capita consumption that are cross-country divergent while Australia, Austria, Belgium among 16 others have no perfect capital mobility.

Capital Management-Internal Funds NEC, Models, Capital market, Capital markets, International finance, Capital movements

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