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Macroeconomic adjustment to external shocks : essays on the behaviour of individuals and markets

Gruen, David William Roy


This thesis consists of three distinct sections. The first two sections present theoretical models of the response of private agents to an unanticipated terms of trade shock and to changes in government net saving, respectively. The third section examines the joint behaviour of interest rates and the exchange rate. The link between the sections is that they were all motivated by the response of the Australian macro economy to the 1985/86 adverse terms of trade shock, and by the...[Show more]

CollectionsOpen Access Theses
Date published: 1990
Type: Thesis (PhD)
DOI: 10.25911/5d73960dafbe8


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