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The paper reviews the directions of research that offer important insights into open economy macroeconomic policy … irreversible investment, drawing on the option literature, shows the value of waiting. In open economy macroeconomics this theory …
Persistent link: https://www.econbiz.de/10012476696
This paper examines the operation of the gold standard and the performance of the Bank of England during the crisis of 1847. The key feature of that crisis has been its origin: it originated from a massive real shock rather than from monetary disorder. A harvest failure gave rise to commercial...
Persistent link: https://www.econbiz.de/10012478066
The paper reviews the directions of research that offer important insights into open economy macroeconomic policy … irreversible investment, drawing on the option literature, shows the value of waiting. In open economy macroeconomics this theory …
Persistent link: https://www.econbiz.de/10012760278