Growth Oriented Adjustment Programs: A Reconsideration.
This paper responds to the important pedagogical exercise of Khan and Montiel (1989). Those authors integrate the Polak monetary model of macroeconomic adjustment with a two-gap growth model to study 'adjustment with growth'. Here we nest both the Polak and the Khan and Montiel models in a...
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| Format: | Working paper |
| Language: | English |
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CEPR
1990
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