GLOBAL MACROECONOMIC THEORY IN MEANSTREAM ECONOMICS: CURRENT ACCOUNT DYNAMICS IN NEW OPEN MACRO ECONOMİCS (NOEM)

Year 2009, Volume: 9 Issue: 4, 1485 - 1510, 01.11.2009

S. Sevinç Orhan

Abstract

The New Open Macroeconomics (NOEM) literature in meanstream economics has developed for the last ten years. NOEM literature contends the optimal monetary policy argument and the coordination problems of optimal monetary policy in global economy. The NOEM Literature has an empirical and theoretical content that is explored the optimal monetary policy in the cross cauntries. The monetary transmission process in New Keynessian Economics disputes the small and open economy in which mark-up prices and wages are stickiness. Obstfeld and Rogoff (1995) contribution, which is based on the Mundell-Fleming and Keynesian tradition, to NOEM Literature draws attantion to the stickness of current producers’ export prices

Keywords

new open macroeconomics (NOEM), current accaunt dynamics, monetary transmisison mechanism, monetary shocks

YERLEŞİK İKTİSATTA KÜRESEL MAKROEKONOMİK TEORİ: YENİ AÇIK MAKROEKONOMİDE (NOEM) CARİ İŞLEMLER DİNAMİKLERİ

Abstract

Yerleşik iktisatta “Yeni Açık Makroekonomi” (New Open Macroeconomics) (NOEM) yazını son on yıldır küresel ekonomide optimal para politikaları ve bu politikaların kordinasyon sorunu üzerinde süregelen tartışmalar ışığında şekillenmektedir. NOEM yazını küresel ekonomide ülkelerarası optimal stabilizasyon politikaları ve uygulamalarının tartışıldığı kuramsal ve amprik bir içeriğe sahiptir. Yeni Keynezyen İktisat’ta parasal aktarım süreci küçük ve açık ekonomide, ücret ve fiyat (mark-up) yapışkanlığı altında tartışılmaktadır. Mundell-Fleming ve Keynesyen geleneğe dayanan NOEM modelleri Obstfeld ve Rogof (1995)’un katkılarıyla, üreticinin cari ihracat fiyat yapışkanlığına dikkat çekmektedir

Keywords

yeni açık makroekonomi, cari İşlemler dinamikleri, parasal aktarım mekanizmaları, parasal şoklar, JEL Sınıflaması:E12, F41, F42

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