Inflation in a Monetary Union Book

	Introduction	1
Pt. 1	The Closed Economy	11
1	The Static Model	13
2	Given Money Growth	17
3	Target Inflation and Required Money Growth	23
Pt. 2	The World of Two Monetary Regions	27
Ch. 1	The Static Model	29
1	Fixed Wages	29
2	Flexible Wages	38
Ch. 2	Given Money Growth	41
1	The Dynamic Model	41
2	Inflation and Depreciation	45
3	Wage Growth	55
4	Nominal and Real Interest Rates	66
Ch. 3	Target Inflation and Required Money Growth	71
1	Required Money Growth	71
2	Wage Growth	79
Ch. 4	The Monetary Regions Differ in Size	87
Pt. 3	The Monetary Union of Two Countries	91
Ch. 1	The Static Model	93
1	Fixed Wages	93
2	Flexible Wages	106
Ch. 2	Given Money Growth	109
1	The Dynamic Model	109
2	Inflation and Depreciation	115
3	Wage Growth	125
4	Nominal and Real Interest Rates	136
Ch. 3	Target Inflation and Required Money Growth	141
1	The Dynamic Model	141
2	Required Money Growth	143
3	Wage Growth	146
Ch. 4	The Union Countries Differ in Size	151
Pt. 4	A One-Good Model of the World Economy	157
Ch. 1	The World of Two Monetary Regions	159
1	The Static Model	159
2	The Dynamic Model	161
3	Inflation and Depreciation	162
4	Wage Growth	164
5	Nominal and Real Interest Rates	165
6	Target Inflation and Required Money Growth	167
Ch. 2	The Monetary Union of Two Countries	171
1	The Static Model	171
2	The Dynamic Model	172
3	Given Money Growth	174
4	Target Inflation and Required Money Growth	177
Pt. 5	Microfoundations for a Monetary Union	179
Ch. 1	The World of Two Monetary Regions	181
1	The Approach	181
2	The Demand Functions of European Households	182
3	The Demand Functions of American Households	185
4	The Market for European Goods	188
5	The Market for American Goods	189
6	A First Model of Europe and America	190
7	The Consumption, Export and Import Functions of Europe	191
8	The Consumption, Export and Import Functions of America	194
9	A Second Model of Europe and America	197
Ch. 2	The Monetary Regions Differ in Size	199
1	The Model	199
2	The Exact Solution	200
3	An Approximate Solution for the Small Monetary Region	202
Ch. 3	The Large Monetary Union of Two Countries	205
1	The Approach	205
2	The Demand Functions of German Households	207
3	The Demand Functions of French Househodls	210
4	The Demand Functions of American Households	211
5	The Market for German Goods	213
6	The Market for French Goods	214
7	The Market for American Goods	215
8	A First Model of Germany, France and America	217
9	The Consumption, Export and Import Functions of Germany	218
10	The Consumption, Export and Import Functions of France	222
11	The Consumption, Export and Import Functions of America	226
12	A Second Model of Germany, France and America	231
Ch. 4	The Small Monetary Union of Two Countries	233
	Synopsis	235
	Conclusion	253
	Result	281
	Symbols	289
	A Brief Survey of the Literature	291
	References	295
	Index	303