monetary approach to the balance of paymentsgold standardWhen thinking about how the gold standard worked, economists tend to focus on issues of price level determination and the self-correcting role of gold productioHendrickson, Joshua R.Boateng, KwabenaSocial Science Electronic Publishing
Alderfer’s ERG Theory, developed by psychologist Clayton Alderfer, is an adjustment and refinement of Maslow’s Hierarchy of Needs. ERG stands for Existence, Relatedness, and Growth, and unlike Maslow’s model, Alderfer’s theory allows for the satisfaction of needs at different levels simultaneous...
The price predictions of the elasticity and monetary theories of balance of payments adjustment are compared with actual price behavior. Price behavior differs more from the relatively demanding monetary approach in that price levels and price movements for GDP as a whole and for specific types of ...
of the Federal Republic of Germany during the period 1972 to 1982.; In order to achieve this comparison the approach uses the Almon polynomial distributed lag method to determine the speed of adjustment of changes in the regressors upon the regressands which are the trade balance, and the ...