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ON THE OUTPUT‐INFLATION TRADE‐OFF IN AN OPEN ECONOMY: A SHORT‐RUN MONETARY APPROACH

1978; Wiley; Volume: 46; Issue: 2 Linguagem: Inglês

10.1111/j.1467-9957.1978.tb00156.x

1467-9957

Mario I. Bléjer, Roque B. Fernández,

Monetary Policy and Economic Impact

The Manchester SchoolVolume 46, Issue 2 p. 123-138 ON THE OUTPUT-INFLATION TRADE-OFF IN AN OPEN ECONOMY: A SHORT-RUN MONETARY APPROACH MARIO I. BLEJER, MARIO I. BLEJER The Hebrew University of Jerusalem and Boston UniversitySearch for more papers by this authorROQUE B. FERNANDEZ, ROQUE B. FERNANDEZ The Hebrew University of Jerusalem and Boston University We are indebted to the participants of the International Trade Workshop at the University of Chicago for their comments. We are particularly grateful to the late Professor Harry G. Johnson for his careful reading of a previous draft, his helpful advice and suggestions, and his encouragement to pursue the topic. Many of his comments are included in the final version of the paper. As always the sole responsibility for remaining errors is ours. The views expressed in this paper are those of the authors and should not be ascribed to the International Monetary Fund.Search for more papers by this author MARIO I. BLEJER, MARIO I. BLEJER The Hebrew University of Jerusalem and Boston UniversitySearch for more papers by this authorROQUE B. FERNANDEZ, ROQUE B. FERNANDEZ The Hebrew University of Jerusalem and Boston University We are indebted to the participants of the International Trade Workshop at the University of Chicago for their comments. We are particularly grateful to the late Professor Harry G. Johnson for his careful reading of a previous draft, his helpful advice and suggestions, and his encouragement to pursue the topic. Many of his comments are included in the final version of the paper. As always the sole responsibility for remaining errors is ours. The views expressed in this paper are those of the authors and should not be ascribed to the International Monetary Fund.Search for more papers by this author First published: June 1978 https://doi.org/10.1111/j.1467-9957.1978.tb00156.xCitations: 4 AboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onEmailFacebookTwitterLinkedInRedditWechat References Blejer, Mario I. (1977). “Short-Run Dynamics of Prices and the Balance of Payments”, American Economic Review, Vol. LXVII, No. 3, pp. 419–428. Johnson, Harry G. (1958). “ Towards a General Economic Theory of the Balance of Payments” in idem, International Trade and Economic Growth, London , Allen and Unwin. Johnson, Harry G. (1972). “ The Monetary Approach to the Balance of Payments” in idem, Further Essays in Monetary Economics, London , Allen and Unwin. Lucas, Robert E., Jr. (1973). “Some International Evidence on Output-Inflation Tradeoffs”, American Economic Review, Vol. LXIII, No. 3 pp. 326–334. Lucas, Robert E., Jr. and Rapping, Leonard A. (1970). “ Real Wages, Employment, and Inflation” in E. Phelps et al., (eds.), Microeconomic Foundations of Employment and Inflation Theory, New York , Norton, pp. 257–305. Mundell, Robert A. (1971). Monetary Theory, Pacific Palisades , California , Goodyear Publishing. Muth, John F. (1961). “Rational Expectations and the Theory of Price Movements”, Econmnetrica, Vol. XXIX, No. 4, pp. 315–335. Parkin, M. and Smith, G. W. (1976). “ Inflationary Expectations and the Long-Run Trade-Off Between Inflation and Unemployment in Open Economies” in M. Parkin and G. Zis, (eds.), Inflation in Open Economies, Manchester , University of Manchester Press. M. Parkin and G. Zis, (eds.) (1976). Inflation in Open Economies, Manchester , University of Manchester Press. Rybezynski, T. M. (1955). “Factor Endowment and Relative Commodity Prices”, Economica, Vol. XXII, No. 88, pp. 336–341. Stolper, W. F. and Samuelson, P. A. (1941). “Protection and Real Wages”, Review of Economic Studies, Vol. 9, No. 1, pp. 58–73. Citing Literature Volume46, Issue2June 1978Pages 123-138 ReferencesRelatedInformation