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Author: search.filters.author.Herrera Catalán, PedroSubject: search.filters.subject.Modelos económicos

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    La macroeconomía de una economía abierta en el corto plazo : el modelo Mundell-Fleming
    (Pontificia Universidad Católica del Perú. Departamento de Economía, 2003)
    In this paper we present the Mundell – Fleming model for a regime of fixed and flexible exchange rate, in a context of perfect capital mobility. In the first part we present the model for the case of a fixed exchange – regime, in which the basic equations will be introduced describing the market for goods, the monetary market, the domestic market of bonds and the external bond market; as well as the interaction mechanisms between this markets. There will be carried out three simulation exercises, in which the effects will be seen on the production, the international reserves and the domestic interest rate of an expanding fiscal police, a devaluation and an increment of the external interest rate. In the second part we will develop the model for the case of a flexible exchange – regime, and the effects of fiscal and monetary policy, and of an increment of the external interest rate on production, domestic interest rates and the exchange rate will be examined.
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    La macroeconomía de una economía abierta en el corto plazo: del modelo Mundell – Fleming a la demanda agregada
    (Pontificia Universidad Católica del Perú. Departamento de Economía, 2003)
    In this paper the Mundell – Fleming model is used to derive the curve of the aggregate demand for regimens of fixed and flexible exchange rates, in a context of perfect capital mobility. A curve of perfectly elastic aggregate supply will be supposed. Though, all increment of the aggregate demand will be translated in a variation of the production of the same magnitude to return to the equilibrium, while the price level stays constant. The price level will be introduced in an explicit way, since the analysis requires that one works in the plane of the demanded production and the price level. The form of incorporating it will be through the real exchange rate, in the market for goods; and through the nominal demand of money, in the monetary market.