A model of trade in money, goods and factors

Oil shocks and external adjustment

“…8 Leduc and Sill (2004) augmented the model of Kim and Loungani (1992) to tackle the question originally raised in the VAR study by Bernanke et al (1997) of how alternative monetary policy specifications influence the transmission of oil shocks. 9 Early open economy contributions include Schmid (1976), Findlay and Rodriguez (1977), and Buiter (1978). None of these contributions tackled the intertemporal decision on savings and investment.…”

Reaktionen auf Energiepreissteigerungen

“…-978-3-631-75597-6 Downloaded from PubFactory at 09/22/2020 06:00:16AM via free access Schmid (1976).…”

Factor Substitution, Rational Expectations, and the Effects of Commodity Price Shocks on Employment and Investment

“…Commodity price shocks may give rise to a number of disturbances, external and internal, on the macro as well as the micro level. The external effects, working via exchange rates as well as international capital markets, have been analyzed by authors such as Findlay and Rodriguez (1977), Herberg (1976), Schmid (1976Schmid ( , 1981, Bruno and Sachs (1981), Sachs (1980), Krugman (1981), and Marion and Svensson (1984). Tolley and Wilman (1977) discuss the related issue of foreign dependence.…”