The Stability of Macroeconomy in the Floating Exchange Rate System
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概要
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Recently, the Japanese economy has suffered from the problem of very large excess exports, i.e., Japan is under pressure of expanding imports and increasing domestic demand. On the other hand, the U.S. economy also has the big economic problems "the twins of deficits," i.e., the large deficits in both government budgets and trade balance. The U.S. is under pressure of expanding exports and decreasing government budget deficits. Under the these conditions of omnipresence of trade surplus and deficits, the exchange rate fluctuates violently. The purpose of this paper is to study the stability condition of macroeconomics in the floating exchange rate system. In the ordinary macroeconomic IS-LM analysis, we regard national income and interest rate as the key economic variables. But in this paper, we think of national income, interest rate and exchange rate as the important economic variables.
- 大阪府立大学の論文
- 1988-03-31
著者
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