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Author
S.J.G. van Wijnbergen
Year
1985
Title
Oil price shocks, unemployement, investment and the current account: an intertemporal disequilibrium analysis
Journal
The Review of Economic Studies
Volume | Issue number
52 | 171 (Oct)
Pages (from-to)
627--
Number of pages
19
Document type
Article
Faculty
Faculty of Economics and Business (FEB)
Institute
Amsterdam School of Economics Research Institute (ASE-RI)
Abstract
Recent work on macroeconomics of price increases of intermediate imports while theoretical rigorous and elegant, is still unable to explain the stylized facts. This paper attempts to remedy the shortcomings of earlier papers by using a two-period model to properly analyse investment and savings behaviour and hence the current account. This model also incorporates disequilibrium in first-period labour and goods markets to compare the response of countries in different disequilibrium regimes to shocks in intermediate input prices.
Language
Undefined/Unknown
Permalink
http://hdl.handle.net/11245/1.428347

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