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This text develops a complex open economy macro-model of the world economy that synthesizes the new Keynesian and new classical approaches to constructing aggregate models. It extends the two approaches by offering a more general international and intertemporal transmission mechanism.
This text develops a complex open economy macro-model of the world economy that synthesizes the new Keynesian and new classical approaches to constructing aggregate models. It extends the two approaches by offering a more general international and intertemporal transmission mechanism.
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