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AGGREGATE DYNAMICS IN AN OPEN ECONOMY *
Author(s) -
BHANDARI JAGDEEP S.
Publication year - 1983
Publication title -
the manchester school
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.361
H-Index - 42
eISSN - 1467-9957
pISSN - 1463-6786
DOI - 10.1111/j.1467-9957.1983.tb00745.x
Subject(s) - economics , dynamics (music) , open economy , point (geometry) , exchange rate , small open economy , aggregate (composite) , monetary economics , macroeconomics , keynesian economics , economy , mathematics , physics , geometry , materials science , acoustics , composite material
“The most serious deficiency, from the point of view of exchange dynamics, may be the assumption that export and import values react instantaneously to changes in prices and the exchange rate, while in reality, this reaction is distributed over a number of years.” (Jiirg Niehans, Journal of Political Economy, December 1977.)