TY  - JOUR
AU  - Gylfason,Thorvaldur
AU  - Helliwell,John F.
TI  - A Synthesis of Keynesian, Monetary, and Portfolio Approaches to FlexibleExchange Rates
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 949
PY  - 1984
Y2  - July 1984
UR  - http://www.nber.org/papers/w0949
L1  - http://www.nber.org/papers/w0949.pdf
N1  - Author contact info:
John F. Helliwell
Vancouver School of Economics
University of British Columbia
997-1873 East Mall
Vancouver BC V6T 1Z1
CANADA
Tel: 604/822-4953
Fax: 604/822-5915
E-Mail: john.helliwell@ubc.ca
AB  - This paper presents a simple synthesis of Keynesian, monetary, and portfolio approaches to macroeconomic theory under flexible exchange rates. By including the key features of all the partial approaches in a general model, we show that some of the important contrasts that have been drawn between the approaches are due to a neglect of repercussions elsewhere in the economy. After reconciling these false contrasts, we show how some of the approaches still give different predictions about the effects of monetary and fiscal policy using differing assumptions about the international mobility of goods and financial assets.
ER  -