On patterns of dynamic interdependence in a two-country world under flexible exchange rates |
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| Authors: | Masanao Aoki |
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| Affiliation: | University of California, Los Angeles, CA 90024, USA |
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| Abstract: | A two-country general equilibrium model of the world, where the interest-rate parity and the purchasing power parity conditions hold, is used to demonstrate how the two economies become interdependent through expectational mechanisms, and the government budgets being not in balance. |
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