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The Dual Roles of the Government Budget and the Balance of Payments in the Movement from Short-Run to Long-Run Equilibrium

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  • William H. Branson

Abstract

I. Introduction and background, 346.—II. A two-asset model with trade, 349.—III. Instantaneous equilibrium with a flexible exchange rate, 355.—IV. Stock equilibrium with a flexible exchange rate, 357.—V. Monetary and fiscal policy reconsidered, 361.—VI. Stock equilibrium with a fixed exchange rate, 364.—Appendix: Determinant condition for stock equilibrium, 366.

Suggested Citation

  • William H. Branson, 1976. "The Dual Roles of the Government Budget and the Balance of Payments in the Movement from Short-Run to Long-Run Equilibrium," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 90(3), pages 345-367.
    • Handle: RePEc:oup:qjecon:v:90:y:1976:i:3:p:345-367.
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    Citations

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    Cited by:

    1. William H. Branson & Willem H. Buiter, 1982. "Monetary and Fiscal Policy with Flexible Exchange Rates," NBER Working Papers 0901, National Bureau of Economic Research, Inc.
    2. Eric Bleuze, 1988. "L'interdépendance des économies en change flexible : les apports d'une maquette dynamique," Post-Print hal-01304325, HAL.
    3. repec:spo:wpmain:info:hdl:2441/5386 is not listed on IDEAS
    4. Mirakhor, Abbas & Zaidi, Iqbal, 1988. "Stabilization and Growth in an Open Islamic Economy," MPRA Paper 56003, University Library of Munich, Germany.
    5. repec:hal:spmain:info:hdl:2441/5386 is not listed on IDEAS
    6. Henri Sterdyniak & Éric Bleuze, 1988. "L'interdépendance des économies en change flexible : les apports d'une maquette dynamique," Revue Économique, Programme National Persée, vol. 39(5), pages 999-1034.
    7. Mensah, Isaac Quao, 1982. "Asset market approach to exchange rate determination," ISU General Staff Papers 198201010800008057, Iowa State University, Department of Economics.
    8. Visser, H., 1990. "Crowding out and the government budget," Serie Research Memoranda 0006, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    9. Howard Petith, 1979. "Note on “economic policy in an open economy under alternative exchange rate systems: Effectiveness and stability in the short and long run”," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 115(3), pages 540-542, September.
    10. Jeffrey Sachs & Charles Wyplosz, 1984. "Real Exchange Rate Effects of Fiscal Policy," NBER Working Papers 1255, National Bureau of Economic Research, Inc.

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