Essays in international finance and macroeconomics
Fissel, Gary S. “Essays in international finance and macroeconomics”, Boston College, 1988. http://hdl.handle.net/2345/1806.
The following three essays address two issues that have gained much recent attention among macroeconomists. The first essay - "International Policy Coordination: Policy Analysis in a Staggered Wage-setting Model" - deals with the incentives for countries to coordinate monetary and fiscal policies in an environment where the countries differ only in the length of the labor contracts which typify their respective economies. The second essay - "Tests for Liquidity Constraints: A Critique" and the third essay - "Liquidity Constraint Volatility: Evidence from Post-war Aggregate Time-series Data" - are tests of the importance and persistence of liquidity constraints in determining consumption behavior in the United States using micro-based data and aggregate timeseries data, respectively.