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Browsing Duke Faculty Articles by Duke-affiliated Author "Kimbrough, Kent P."

DukeSpace

Browsing Duke Faculty Articles by Duke-affiliated Author "Kimbrough, Kent P."

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  • Aggregate Information and the Role of Monetary Policy in an Open Economy
    Kimbrough, Kent (Journal of Political Economy, 1984)
    A model of a small open economy in which agents trade in local goods markets and an economy-wide asset market is developed. Purchasing-power parity is assumed to hold at the aggregate level. However, because of local ...
  • The Behavior of U.S. Tariff Rates
    Kimbrough, Kent; Gardner, Grant W. (American Economic Review, 1989)
    The recent large deficits in the US trade balance have led to a rise in protectionist sentiment in the US Congress. In light of the recent literature on tariffs and trade balance, it is important to ask whether the current ...
  • Commercial Policy and Aggregate Employment under Rational Expectations
    Kimbrough, Kent (Quarterly Journal of Economics, 1984)
    Commercial policy is often advocated as a useful tool for combating such macroeconomic ills as unemployment and chronic balance of payments deficits. This paper examines the role of expectations in determining the output ...
  • The Decline of the Welfare State: Demography and Globalization by A.Razin and E. Sadka in cooperation with C.W. Nam
    Kimbrough, Kent (Journal of Economic Literature, 2006)
    In The Decline of the Welfare State, Assaf Razin and Efraim Sadka use a political economy framework to analyze the effects of aging populations, migration, and globalization on the deteriorating system of financing welfare ...
  • An Examination of the Effects of Government Purchases in an Open Economy
    Kimbrough, Kent (Journal of International Money and Finance, 1985)
    This paper examines the effects of permanent and transitory changes in government purchases in the context of a model of a small open economy that produces and consumes both traded and nontraded goods. The model incorporates ...
  • Exchange Rate Policy and Monetary Information
    Kimbrough, Kent (Journal of International Money and Finance, 1983)
    This paper develops a model of a small open economy in which the presence of local deviations from purchasing power parity give rise to differential information. It is assumed that the monetary authorities are committed ...
  • The Information Content of the Exchange Rate and the Stability of Real Output under Alternative Exchange Rate Regimes
    Kimbrough, Kent (Journal of International Money and Finance, 1983)
    When the exchange rate is flexible, and thus responds to market forces, it provides agents with useful information, while when it is fixed (by a feedback rule) it does not. The implications of this asymmetry for the stability ...
  • Optimal Monetary Policies and Policy Interdependence in the World Economy
    Kimbrough, Kent (Journal of International Money and Finance, 1993)
    The literature on strategic policy interactions has focused on the implications of alternative strategic policy interactions, cooperative versus noncooperative, for equilibrium macroeconomic policies given the state of the ...
  • The Optimal Quantity of Money Rule in the Theory of Public Finance
    Kimbrough, Kent (Journal of Monetary Economics, 1986)
    This paper examines optimal tax policy in a monetary economy in which money serves as an intermediate good that helps facilitate the conversion of scarce resources into final consumption goods by enabling consumers to ...
  • Price, Output, and Exchange Rate Movements in the Open Economy
    Kimbrough, Kent (Journal of Monetary Economics, 1983)
    Since the advent of managed floating it has come to be accepted as a stylized fact that short-run deviations from purchasing power parity are both substantial and persistent. Two explanations of these deviations have been ...
  • Revenue Maximizing Inflation
    Kimbrough, Kent (Journal of Monetary Economics, 2006)
    A classic monetary policy result is that revenue maximization entails setting the inflation tax rate equal to the inverse of the interest semi-elasticity of the demand for money. The standard approach underlying “Cagan's ...
  • Tariffs, Interest Rates, and the Trade Balance in the World Economy
    Kimbrough, Kent; Gardner, Grant W. (Journal of International Economics, 1989)
    A two-commodity intertemporal framework is used to show that, in contrast to the conventional wisdom, both permanent and temporary tariffs may worsen the trade balance of a large country. For a temporary tariff the key ...