Theory and Policy of Adjustment in an Open Economy.

Theory and Policy of Adjustment in an Open Economy.

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This paper presents a non-technical introduction to the analysis of how an open economy adjusts to exogenous shocks. Three alternative models of adjustment are considered, each one appropriate to a different time horizon: the specific-factors model with transitional unemployment for the short run; t...

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Autor principal:	Neary, J
Format:	Working paper
Idioma:	English
Publicat:	CEPR 1985

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