The Global Correspondence Principle: A Generalization
推广了保罗·萨缪尔森1971年关于汇率对国际购买力转移响应的分析,研究任意参数变动对价格和非价格变量的影响,发现调整方向与变动大小及局部稳定性无关。
This paper generalizes the Global Correspondence Principle by extending, in two major ways, Paul Samuelson's 1971 analysis of the exchange rate response to an international purchasing-power transfer. We analyze the price effect of a shift in any parameter, not necessarily a transfer. We then explore the resulting adjustments in any nonprice variable such as welfare. As our analysis shows, the direction of these adjustments depends neither on whether they are small or large nor on whether equilibrium is locally stable or unstable.