2534:
40:
1398:
2508:
supply in the foreign exchange market. This keeps the domestic currency's exchange rate at its targeted level. If there is pressure to appreciate the domestic currency's exchange rate because the currency's demand exceeds its supply in the foreign exchange market, the local authority buys foreign currency with domestic currency to increase the domestic currency's supply in the foreign exchange market. Again, this keeps the exchange rate at its targeted level.
799:
1374:
1386:
811:
3178:
4422:
which the MF theory ignores. Nevertheless, Dornbusch concludes that monetary policy is still effective even if it worsens a trade balance, because a monetary expansion pushes down interest rates and encourages spending. He adds that, in the short run, fiscal policy works because it raises interest rates and the velocity of money.
2662:
model, the domestic interest rate is a key component in keeping both the money market and the goods market in equilibrium. Under the
Mundell–Fleming framework of a small economy facing perfect capital mobility, the domestic interest rate is fixed and equilibrium in both markets can only be maintained
2336:
is exogenous, but for different reasons. Under flexible exchange rates, the nominal money supply is completely under the control of the central bank. But under fixed exchange rates, the money supply in the short run (at a given point in time) is fixed based on past international money flows, while as
2594:
curve upward, capital flows out to take advantage of the opportunity. This puts pressure on the home currency to depreciate, so the central bank must buy the home currency — that is, sell some of its foreign currency reserves — to accommodate this outflow. The decrease in the money supply, resulting
1476:
The
Mundell–Fleming model portrays the short-run relationship between an economy's nominal exchange rate, interest rate, and output (in contrast to the closed-economy IS-LM model, which focuses only on the relationship between the interest rate and output). The Mundell–Fleming model has been used to
4421:
The denominator is positive, and the numerator is positive or negative. Thus, a monetary expansion, in the short run, does not necessarily improve the trade balance. This result is not compatible with what the
Mundell–Fleming predicts. This is a consequence of introducing exchange rate expectations
2728:
curve would make capital flow out of the economy. The central bank under a fixed exchange rate system would have to instantaneously intervene by selling foreign money in exchange for domestic money to maintain the exchange rate. The accommodated monetary outflows exactly offset the intended rise in
2516:
In the very short run the money supply is normally predetermined by the past history of international payments flows. If the central bank is maintaining an exchange rate that is consistent with a balance of payments surplus, over time money will flow into the country and the money supply will rise
2435:
curve to the right. This will mean that domestic interest rates and GDP rise. However, this increase in the interest rates attracts foreign investors wishing to take advantage of the higher rates, so they demand the domestic currency, and therefore it appreciates. The strengthening of the currency
2550:
curve to the right. The shift results in an incipient rise in the interest rate, and hence upward pressure on the exchange rate (value of the domestic currency) as foreign funds start to flow in, attracted by the higher interest rate. However, the exchange rate is controlled by the local monetary
2507:
to maintain a specific exchange rate. If there is pressure to devalue the domestic currency's exchange rate because the supply of domestic currency exceeds its demand in foreign exchange markets, the local authority buys domestic currency with foreign currency to decrease the domestic currency's
2422:
curve to the right. This directly reduces the local interest rate relative to the global interest rate. That being said, capital outflows will increase which will lead to a decrease in the real exchange rate, ultimately shifting the IS curve right until interest rates equal global interest rates
2723:
curve shifts out, and as a result income goes up and the domestic interest rate goes down. But in the
Mundell–Fleming open economy model with perfect capital mobility, monetary policy becomes ineffective. An expansionary monetary policy resulting in an incipient outward shift of the
2140:
is the combined GDP of countries that are foreign trading partners. Higher domestic income (GDP) leads to more spending on imports and hence lower net exports; higher foreign income leads to higher spending by foreigners on the country's exports and thus higher net exports. A higher
2994:
2654:
model. The reason is that a large open economy has the characteristics of both an autarky and a small open economy. In particular, it may not face perfect capital mobility, thus allowing internal policy measures to affect the domestic interest rate, and it may be able to sterilize
4215:
4416:
2491:
In a system of fixed exchange rates, central banks announce an exchange rate (the parity rate) at which they are prepared to buy or sell any amount of domestic currency. Thus net payments flows into or out of the country need not equal zero; the exchange rate
2525:– it would absorb newly arrived money by decreasing its holdings of domestic bonds (or the opposite if money were flowing out of the country). But under perfect capital mobility, any such sterilization would be met by further offsetting international flows.
3927:
3807:
3314:
2671:
The
Mundell–Fleming model applied to a small open economy facing perfect capital mobility, in which the domestic interest rate is exogenously determined by the world interest rate, shows stark differences from the closed economy model.
2629:
curve shifts down, foreign money flows in and the home currency is pressured to appreciate, so the central bank offsets the pressure by selling domestic currency (equivalently, buying foreign currency). The inflow of money causes the
3571:
3682:
1537:
is less than perfect and all securities are perfect substitutes. Only risk neutral investors are in the system. The demand for money therefore depends only on income and the interest rate, and investment depends on the interest
2551:
authority in the framework of a fixed exchange rate system. To maintain the exchange rate and eliminate pressure on it, the monetary authority purchases foreign currency using domestic funds in order to shift the
3173:{\displaystyle {\frac {dy}{de}}={\frac {\partial E}{\partial i}}{\frac {di}{de}}+{\frac {\partial E}{\partial y}}{\frac {dy}{de}}+{\frac {\partial T}{\partial e}}+{\frac {\partial T}{\partial y}}{\frac {dy}{de}}}
2687:
curve intact, causing the interest rate and output to rise. But for a small open economy with perfect capital mobility and a flexible exchange rate, the domestic interest rate is predetermined by the horizontal
2586:
To maintain the fixed exchange rate, the central bank must accommodate the capital flows (in or out) which are caused by a change of the global interest rate, in order to offset pressure on the exchange rate.
2537:
An increase in government spending forces the monetary authority to supply the market with local currency to keep the exchange rate unchanged. Shown here is the case of perfect capital mobility, in which the
3993:
2773:
is given, the model predicts the domestic rate will become the same level of the world rate by arbitrage in money markets. However, in reality, the world interest rate is different from the domestic rate.
2436:
will mean it is more expensive for customers of domestic producers to buy the home country's exports, so net exports will decrease, thereby cancelling out the rise in government spending and shifting the
2310:
After the subsequent equations are substituted into the first three equations above, one has a system of three equations in three unknowns, two of which are GDP and the domestic interest rate. Under
4221:
2921:
3454:
2836:
3386:
2396:
As explained below, whether domestic monetary or fiscal policy is potent, in the sense of having an effect on real GDP, depends on the exchange rate regime. The results are summarized here.
3982:
2038:
1954:
1789:
2111:
3813:
3693:
2986:
2254:
3184:
2696:
equation given previously there is exactly one level of output that can make the money market be in equilibrium at that interest rate. Any exogenous changes affecting the
1720:
1847:
2771:
4454:
has pointed out that Sir Robert Peel's economic policies in 1840s
Britain closely followed the irreconcilable policies of the policy trilemma predicted by the model:
2859:
2284:
2183:
2337:
the economy evolves over time these international flows cause future points in time to inherit higher or lower (but pre-determined) values of the money supply.
3465:
3577:
756:
2746:
One of the assumptions of the
Mundell–Fleming model is that domestic and foreign securities are perfect substitutes. Provided the world interest rate
2634:
curve to shift to the right, and the domestic interest rate becomes lower (as low as the world interest rate if there is perfect capital mobility).
841:
1428:
1967:. Higher disposable income or a lower real interest rate (nominal interest rate minus expected inflation) leads to higher consumption spending.
4718:
4741:
2384:
of a three-dimensional space involving all of the interest rate, income, and the exchange rate. However, under perfect capital mobility the
5963:
5919:
2715:
The
Mundell–Fleming model under a fixed exchange rate regime also has completely different implications from those of the closed economy
2452:
curve upward and causes capital flows out of the local economy. This depreciates the local currency and boosts net exports, shifting the
2365:
curve is upward sloped unless there is perfect capital mobility, in which case it is horizontal at the level of the world interest rate.
1169:
4210:{\displaystyle {\frac {dT}{dL}}={\frac {T_{e}(s+m)+T_{y}(E_{i}(\sigma -1)+T_{e})}{L_{i}(\sigma -1)(s+m)+L_{y}(E_{i}(\sigma -1)+T_{e})}}}
2622:
curve will be horizontal at the new world interest rate, so the equilibrium domestic interest rate will equal the world interest rate.
2521:
in the domestic bond market in order to offset these balance-of-payments-induced changes in the money supply — a process called
1541:
The country under consideration is so small that the country cannot affect foreign incomes or the world level of interest rates.
4411:{\displaystyle {\frac {dT}{dL}}={\frac {T_{e}s+T_{y}E_{i}(\sigma -1)}{L_{i}(\sigma -1)(s+m)+L_{y}(E_{i}(\sigma -1)+T_{e})}}\;.}
1124:
375:
151:
5993:
4820:
4694:
4628:
Obstfeld, Robert (2005). "The
Trilemma in History: Tradeoffs among Exchange Rates, Monetary Policies, and capital mobility".
1865:
1482:
2867:
2298:
is the degree of capital mobility (the effect of differences between domestic and foreign interest rates upon capital flows
5998:
834:
3459:
Investment and consumption increase as the interest rates decrease, and currency depreciation improves the trade balance.
4967:
4890:
4469:
3392:
2555:
curve to the right. In the end, the interest rate stays the same but the general income in the economy increases. In the
1421:
1164:
2440:
curve to the left. Therefore, the rise in government spending will have no effect on the national GDP or interest rate.
3325:
2410:
In a system of flexible exchange rates, central banks allow the exchange rate to be determined by market forces alone.
2050:
is GDP in the previous period. Higher lagged income or a lower real interest rate leads to higher investment spending.
1353:
1129:
512:
360:
4860:
4838:
4795:
2784:
1514:
Spot and forward exchange rates are identical, and the existing exchange rates are expected to persist indefinitely.
3933:
2388:
curve is simply horizontal at a level of the domestic interest rate equal to the level of the world interest rate.
1106:
453:
1493:," "unholy trinity," "irreconcilable trinity," "inconsistent trinity," "policy trilemma," or the "Mundell–Fleming
995:
827:
4542:
Mundell, Robert A. (1963). "Capital mobility and stabilization policy under fixed and flexible exchange rates".
5401:
2700:
curve (such as government spending changes) will be exactly offset by resulting exchange rate changes, and the
2650:
assumption. Results for a large open economy, on the other hand, can be consistent with those predicted by the
1414:
975:
2778:
considered how exchange rate expectations have an effect on the exchange rate. Given the approximate formula:
1973:
5371:
5361:
5054:
4519:
1887:
1086:
558:
365:
5582:
5521:
5494:
1746:
1489:. An economy can only maintain two of the three at the same time. This principle is frequently called the "
1295:
1149:
1091:
497:
485:
5948:
5929:
5506:
5351:
5317:
5302:
5281:
5276:
4440:
1154:
1028:
387:
217:
141:
69:
3922:{\displaystyle dL={\frac {\partial L}{\partial i}}di+{\frac {\partial L}{\partial y}}dy=L_{i}di+L_{y}dy}
3802:{\displaystyle dT={\frac {\partial T}{\partial e}}de+{\frac {\partial T}{\partial y}}dy=T_{e}de+T_{y}dy}
5923:
5499:
5189:
5179:
2468:
curve shifts upward by the same amount, and stays there. The exchange rate changes enough to shift the
2456:
curve to the right. Under less than perfect capital mobility, the depreciated exchange rate shifts the
1558:
507:
490:
370:
3309:{\displaystyle {\frac {dy}{de}}={\frac {1}{1-E_{y}-T_{y}}}\left(E_{i}{\frac {di}{de}}+T_{e}\right)\;.}
2056:
1525:
are assumed. Thus domestic price level is kept constant, and the supply of domestic output is elastic.
5988:
5069:
2929:
2522:
2311:
2202:
1217:
985:
920:
2196:
is net exports. That is, the current account is viewed as consisting solely of imports and exports.
5953:
5899:
5642:
5597:
5436:
5307:
5184:
4451:
2381:
1338:
1179:
910:
581:
546:
382:
5657:
4772:
4585:
Fleming, J. Marcus (1962). "Domestic financial policies under fixed and floating exchange rates".
1677:
5607:
5441:
5431:
5421:
5411:
5149:
5139:
5099:
5089:
4962:
4883:
2504:
2464:
curve is always horizontal at the level of the world interest rate. When the latter goes up, the
1807:
1570:
1348:
915:
551:
473:
468:
440:
23:
2749:
2733:
curve to shift to the right, and the interest rate remains equal to the world rate of interest.
2663:
by adjustments of the nominal exchange rate or the money supply (by international funds flows).
2349:
graph with the domestic interest rate plotted vertically and real GDP plotted horizontally. The
5777:
5622:
5482:
5425:
5381:
5344:
5094:
5034:
5009:
4979:
4952:
1048:
1038:
783:
534:
350:
345:
330:
297:
156:
2533:
2423:(assuming horizontal BOP). A decrease in the money supply causes the exact opposite process.
5909:
5592:
5567:
5552:
5526:
5465:
5144:
5084:
5064:
5059:
4514:
2844:
2518:
2399:
Flexible exchange rates: Domestic monetary policy affects GDP, while fiscal policy does not.
1358:
1134:
1043:
945:
623:
598:
502:
435:
161:
124:
102:
97:
5958:
5662:
5406:
5376:
5329:
5292:
5218:
5169:
5134:
5074:
5039:
4974:
4957:
4426:
2262:
2156:
1583:
1212:
1207:
1197:
905:
541:
355:
200:
4907:
2775:
2402:
Fixed exchange rates: Fiscal policy affects GDP, while domestic monetary policy does not.
8:
5888:
5697:
5516:
5416:
5396:
5356:
5312:
5297:
5253:
5194:
5119:
5109:
5079:
5002:
3566:{\displaystyle {\frac {dy}{de}}={\frac {1}{s+m}}\left(E_{i}{\frac {di}{de}}+T_{e}\right)}
2323:
2315:
2294:
is the interest-sensitive component of capital flows, and the derivative of the function
1857:
1592:
1478:
1333:
1066:
751:
628:
463:
425:
166:
129:
5557:
4989:
2480:
curve; now the domestic interest rate equals the new level of the global interest rate.
588:
5943:
5914:
5872:
5677:
5386:
5366:
5334:
5248:
5243:
5223:
5174:
5114:
5104:
5049:
5044:
4876:
4849:
4764:
4712:
4633:
4602:
4559:
4430:
3687:
Then the total differentiations of trade balance and the demand for money are derived.
3677:{\displaystyle {\frac {dy}{de}}={\frac {1}{s+m}}\left(E_{i}(\sigma -1)+T_{e}\right)\;.}
2625:
If the global interest rate declines below the domestic rate, the opposite occurs. The
1596:
1490:
1328:
703:
430:
397:
335:
5807:
5782:
5692:
5572:
5460:
5263:
5199:
5164:
5154:
5024:
4856:
4834:
4816:
4809:
4804:
4791:
4768:
4737:
4700:
4690:
4669:
2719:
model. In the closed economy model, if the central bank expands the money supply the
1378:
1280:
1270:
1260:
890:
858:
778:
766:
723:
568:
563:
287:
212:
5732:
4760:
638:
5857:
5802:
5787:
5772:
5757:
5687:
5667:
5647:
5602:
5209:
5159:
5129:
5124:
5014:
4940:
4756:
4665:
4594:
4551:
4502:
1579:
1534:
1522:
1390:
1300:
1265:
1240:
1000:
900:
713:
698:
224:
195:
183:
173:
109:
89:
59:
54:
5737:
2368:
In this graph, under less than perfect capital mobility the positions of both the
1794:
A higher interest rate or a lower income (GDP) level leads to lower money demand.
5968:
5862:
5827:
5792:
5727:
5652:
5637:
5531:
5487:
5324:
5258:
5233:
5228:
5204:
4935:
4920:
4495:
1873:
1486:
1473:(or a closed economy), the Mundell–Fleming model describes a small open economy.
1466:
1402:
1323:
1255:
1245:
1235:
1144:
1023:
934:
885:
815:
718:
678:
658:
524:
325:
320:
315:
282:
254:
114:
4781:(Tells the difference between the IS-LM-BP model and the Mundell–Fleming model.)
5882:
5867:
5832:
5817:
5797:
5767:
5587:
5238:
4947:
4915:
1462:
1458:
1290:
1139:
980:
960:
773:
688:
683:
340:
190:
146:
64:
39:
31:
5617:
4704:
2655:
balance-of-payments-induced changes in the money supply (as discussed above).
608:
5982:
5847:
5837:
5812:
5752:
5747:
5742:
5722:
5712:
5682:
5672:
5577:
5477:
5450:
5214:
4487:
4458:
4436:
2517:(and vice versa for a payments deficit). If the central bank were to conduct
2329:
is exogenous and the balance of payments surplus is determined by the model.
2129:
1624:
1285:
1275:
1250:
990:
970:
955:
940:
866:
708:
693:
668:
653:
648:
643:
618:
613:
277:
239:
136:
2332:
Under both types of exchange rate regime, the nominal domestic money supply
2132:(the price of foreign currency in terms of units of the domestic currency),
5877:
5822:
5717:
5707:
5702:
5627:
5472:
4997:
4925:
4684:
2647:
1633:
1606:
1305:
1202:
950:
895:
803:
728:
673:
633:
420:
292:
259:
249:
207:
84:
79:
5852:
5842:
5632:
5511:
5455:
4930:
2988:, the differentiation of income with regard to the exchange rate becomes
2121:
1653:
1615:
1343:
1101:
1096:
1076:
925:
733:
244:
229:
4656:
Dornbusch, R. (1976). "Exchange Rate
Expectations and Monetary Policy".
4637:
1397:
5762:
5562:
5339:
4606:
4480:
2503:
Under the fixed exchange rate system, the central bank operates in the
1174:
1071:
1033:
930:
663:
593:
529:
480:
4563:
5612:
5542:
4899:
4505:
every ten years (1847, 1857, 1866) is consistent with this analysis.
2729:
the domestic money supply, completely offsetting the tendency of the
1964:
1518:
1454:
1081:
880:
761:
603:
234:
119:
74:
4598:
2675:
Consider an exogenous increase in government expenditure. Under the
2563:
curve has been shifted exogenously by the fiscal authority, and the
2483:
A decrease in the global interest rate causes the reverse to occur.
5391:
4555:
4465:
2704:
curve will end up in its original position, still intersecting the
2611:
curve plays a passive role, and the outcomes are determined by the
2578:
The reverse process applies when government expenditure decreases.
2391:
1494:
1159:
1005:
4479:
on food and raw materials from 1842 (often loosely referred to as
3319:
The standard IS-LM theory gives us the following basic relations:
2376:
curve depend on the exchange rate (as discussed below), since the
1531:
The balance of trade depends only on income and the exchange rate.
1730:
1470:
1373:
4475:(iii) Free movement of bullion flows from 1819 and lower import
4491:
4476:
1664:
The Mundell–Fleming model is based on the following equations:
1469:. Whereas the traditional IS-LM model deals with economy under
1385:
810:
2460:
curve somewhat back down. Under perfect capital mobility, the
2642:
Some of the results from this model differ from those of the
1643:
402:
178:
4868:
4461:, with the paper pound currency freely convertible to gold.
2571:
curves determine the final resting place of the system; the
4686:
The Great Famine in Ireland and Britain's financial crisis
1561:
2581:
2542:
curve (or, as denoted here, the FE curve) is horizontal.
4833:(4th ed.), Upper Saddle River, NJ: Prentice Hall,
2290:
is the exogenous component of financial capital flows,
2148:
1477:
argue that an economy cannot simultaneously maintain a
2916:{\displaystyle {\frac {di}{de}}=\sigma -1<0\quad .}
2443:
4224:
3996:
3936:
3816:
3696:
3580:
3468:
3395:
3328:
3187:
2997:
2932:
2870:
2847:
2787:
2752:
2345:
The model's workings can be described in terms of an
2265:
2205:
2159:
2059:
1976:
1890:
1810:
1749:
1680:
2590:
If the global interest rate increases, shifting the
2528:
2305:
4855:(4th ed.), New York: Oxford University Press,
4544:
Canadian Journal of Economics and Political Science
3449:{\displaystyle T_{e}>0\;,\quad T_{y}=-m<0\;.}
2448:An increase in the global interest rate shifts the
4848:
4808:
4501:The loss of control of interest rates and serious
4410:
4209:
3976:
3921:
3801:
3676:
3565:
3448:
3380:
3308:
3172:
2980:
2915:
2853:
2830:
2765:
2278:
2248:
2177:
2105:
2032:
1948:
1841:
1783:
1714:
4651:
4649:
4647:
3381:{\displaystyle E_{i}<0\;,\quad E_{y}=1-s>0}
2431:An increase in government expenditure shifts the
2426:
2357:curve is upward sloped, as in the closed economy
5980:
2511:
2405:
2392:Summary of potency of monetary and fiscal policy
2472:curve to the location where it crosses the new
1510:Basic assumptions of the model are as follows:
4644:
4457:(i) Fixing the value of British currency to a
2831:{\displaystyle i=i^{\star }+{\frac {e'}{e}}-1}
2607:curves at their intersection. Once again, the
2413:
4884:
4785:
3977:{\displaystyle L_{i}<0\;,\quad L_{y}>0}
2741:
2486:
2476:curve at its intersection with the unchanged
1422:
835:
4468:supply based on a fixed relationship to the
2546:Increased government expenditure shifts the
4735:
1170:Regional Comprehensive Economic Partnership
4891:
4877:
4717:: CS1 maint: location missing publisher (
4404:
3953:
3670:
3442:
3412:
3345:
3302:
2599:curve to the left until it intersects the
1429:
1415:
842:
828:
4828:
4786:Carlin, Wendy; Soskice, David W. (1990),
4655:
4537:
4535:
2637:
2496:is exogenously given, while the variable
2340:
2322:is set equal to zero. In contrast, under
2029:
1945:
1838:
1711:
1550:This model uses the following variables:
1457:model first set forth (independently) by
4846:
4627:
2618:Under perfect capital mobility, the new
2532:
2033:{\displaystyle I=I(i-E(\pi ),Y_{t-1})\,}
4621:
4584:
4569:
4541:
2418:An increase in money supply shifts the
1949:{\displaystyle C=C(Y-T(Y),i-E(\pi ))\,}
5981:
4803:
4630:The Review of Economics and Statistics
4612:
4578:
4532:
2841:and if the elasticity of expectations
1528:Taxes and saving increase with income.
1125:Association of Southeast Asian Nations
152:Measures of national income and output
4872:
4790:, New York: Oxford University Press,
1784:{\displaystyle {\frac {M}{P}}=L(i,Y)}
4682:
2712:curves at their intersection point.
2380:graph is actually a two-dimensional
2149:Balance of payments (BoP) components
1521:, unemployed resources and constant
4968:Agent-based computational economics
4788:Macroeconomics and the Wage Bargain
2861:, is less than unity, then we have
2582:Changes in the global interest rate
2444:Changes in the global interest rate
1465:. The model is an extension of the
1165:North American Free Trade Agreement
13:
4729:
4658:Journal of International Economics
4632:. Vol. 87. pp. 423–438.
3866:
3858:
3837:
3829:
3746:
3738:
3717:
3709:
3141:
3133:
3118:
3110:
3075:
3067:
3032:
3024:
1354:Criticism of intellectual property
1130:Bank for International Settlements
14:
6010:
4815:(6th ed.), New York: Worth,
2683:curve shifts rightward, with the
2529:Changes in government expenditure
2353:curve is downward sloped and the
2314:, the exchange rate is the third
2306:Variables determined by the model
5426:neoclassical–Keynesian synthesis
4689:. Woodbridge. pp. 137–141.
4613:Cooper, Richard N., ed. (1969).
2106:{\displaystyle NX=NX(e,Y,Y^{*})}
1879:
1396:
1384:
1372:
1107:Economic liberalization in India
809:
797:
38:
4761:10.1215/00182702-36-Suppl_1-127
3957:
3416:
3349:
2981:{\displaystyle y=E(i,y)+T(e,y)}
2909:
2575:curve merely passively reacts.
2249:{\displaystyle KA=z(i-i^{*})+k}
1500:
996:Structural Adjustment Programme
4676:
4398:
4382:
4370:
4357:
4341:
4329:
4326:
4314:
4299:
4287:
4201:
4185:
4173:
4160:
4144:
4132:
4129:
4117:
4102:
4086:
4074:
4061:
4045:
4033:
3649:
3637:
2975:
2963:
2954:
2942:
2427:Changes in government spending
2286:is the foreign interest rate,
2237:
2218:
2100:
2075:
2026:
2004:
1998:
1986:
1942:
1939:
1933:
1918:
1912:
1900:
1778:
1766:
1632:is liquidity preference (real
1505:
757:Publications in macroeconomics
1:
5362:Critique of political economy
4898:
4525:
4445:
2595:from the outflow, shifts the
2406:Flexible exchange rate regime
2145:leads to higher net exports.
1801:(Balance of Payments) Curve:
5994:International macroeconomics
4749:History of Political Economy
4670:10.1016/0022-1996(76)90001-5
3987:and then, it turns out that
2736:
1963:(π) is the expected rate of
1715:{\displaystyle Y=C+I+G+NX\,}
1659:
1545:
1150:Greater Arab Free Trade Area
1092:Positive non-interventionism
7:
5999:Open economy macroeconomics
4851:Economics of Monetary Union
4829:Blanchard, Olivier (2006),
4570:Mundell, Robert A. (1968).
4508:
4441:Capital asset pricing model
2512:Changes in the money supply
2414:Changes in the money supply
2192:is the current account and
1842:{\displaystyle BoP=CA+KA\,}
1155:International Monetary Fund
10:
6015:
5500:Real business-cycle theory
4617:. New York: Penguin Books.
4434:
4424:
2766:{\displaystyle i^{\star }}
2742:Exchange rate expectations
2666:
2487:Fixed exchange rate regime
976:Public–private partnership
508:New neoclassical synthesis
491:Real business-cycle theory
5940:
5898:
5540:
5274:
5023:
4988:
4906:
4520:Marshall–Lerner condition
2926:Since domestic output is
1605:is the exogenous nominal
921:Foreign direct investment
1339:Authoritarian capitalism
1180:World Trade Organization
911:Economic interdependence
513:Saltwater and freshwater
5140:Industrial organization
4963:Computational economics
4847:DeGrauwe, Paul (2000),
4572:International Economics
4494:in order to reduce the
4450:The economic historian
2854:{\displaystyle \sigma }
2505:foreign exchange market
2312:flexible exchange rates
1349:Criticism of capitalism
916:Economic liberalization
441:International economics
366:Overlapping generations
5345:Modern monetary theory
5010:Experimental economics
4980:Pluralism in economics
4953:Mathematical economics
4742:"IS-LM-BP: An Inquest"
4683:Read, Charles (2022).
4574:. New York: Macmillan.
4412:
4211:
3978:
3923:
3803:
3678:
3567:
3450:
3382:
3310:
3174:
2982:
2917:
2855:
2832:
2767:
2638:Differences from IS-LM
2543:
2519:open market operations
2341:Mechanics of the model
2280:
2250:
2179:
2107:
2034:
1950:
1843:
1785:
1716:
784:Mathematical economics
535:Modern monetary theory
298:Universal basic income
4615:International Finance
4515:Optimum currency area
4413:
4212:
3979:
3924:
3804:
3679:
3568:
3451:
3383:
3311:
3175:
2983:
2918:
2856:
2833:
2768:
2692:curve, and so by the
2646:model because of the
2536:
2281:
2279:{\displaystyle i^{*}}
2251:
2180:
2178:{\displaystyle CA=NX}
2108:
2035:
1951:
1844:
1786:
1717:
1582:, including intended
1485:, and an independent
1483:free capital movement
1443:Mundell–Fleming model
1379:Capitalism portal
1359:Market fundamentalism
1135:European Central Bank
966:Mundell–Fleming model
946:Intellectual property
624:Wesley Clair Mitchell
599:Thomas Robert Malthus
436:Development economics
5219:Social choice theory
4975:Behavioral economics
4958:Complexity economics
4755:(Suppl 1): 127–164,
4427:interest rate parity
4222:
3994:
3934:
3814:
3694:
3578:
3466:
3393:
3326:
3185:
2995:
2930:
2868:
2845:
2785:
2750:
2324:fixed exchange rates
2263:
2203:
2157:
2057:
1974:
1888:
1808:
1747:
1678:
1584:inventory investment
1445:, also known as the
1391:Economics portal
1213:Adam Smith Institute
1208:World Economic Forum
1198:Mont Pelerin Society
906:Economic integration
361:Ramsey–Cass–Koopmans
201:Liquidity preference
5303:American (National)
5003:Economic statistics
4738:Darity, William Jr.
2316:endogenous variable
1858:balance of payments
1593:government spending
1580:physical investment
1479:fixed exchange rate
1403:Politics portal
1334:Alter-globalization
1067:Fiscal conservatism
816:Business portal
752:Macroeconomic model
629:John Maynard Keynes
426:Economic statistics
371:General equilibrium
4805:Mankiw, N. Gregory
4431:Overshooting model
4408:
4207:
3974:
3919:
3799:
3674:
3563:
3446:
3378:
3306:
3170:
2978:
2913:
2851:
2828:
2763:
2544:
2276:
2246:
2175:
2103:
2030:
1946:
1839:
1781:
1712:
1597:exogenous variable
1491:impossible trinity
1329:Anti-globalization
704:Edward C. Prescott
431:Monetary economics
5976:
5975:
5507:New institutional
4822:978-0-7167-6213-3
4782:
4696:978-1-80010-627-7
4402:
4243:
4205:
4015:
3873:
3844:
3753:
3724:
3620:
3599:
3543:
3508:
3487:
3282:
3247:
3206:
3168:
3148:
3125:
3102:
3082:
3059:
3039:
3016:
2889:
2820:
2776:Rüdiger Dornbusch
1758:
1614:is the exogenous
1439:
1438:
1281:Yasuhiro Nakasone
1271:Margaret Thatcher
1261:James M. Buchanan
891:Denationalization
852:
851:
779:Political economy
734:N. Gregory Mankiw
724:Thomas J. Sargent
569:Market monetarism
383:Endogenous growth
213:National accounts
6006:
5989:Economics models
5180:Natural resource
5015:Economic history
4941:Mechanism design
4893:
4886:
4879:
4870:
4869:
4865:
4854:
4843:
4825:
4814:
4800:
4780:
4779:
4777:
4771:, archived from
4746:
4723:
4722:
4716:
4708:
4680:
4674:
4673:
4653:
4642:
4641:
4625:
4619:
4618:
4610:
4587:IMF Staff Papers
4582:
4576:
4575:
4567:
4539:
4486:(iv) Control of
4417:
4415:
4414:
4409:
4403:
4401:
4397:
4396:
4369:
4368:
4356:
4355:
4313:
4312:
4302:
4286:
4285:
4276:
4275:
4260:
4259:
4249:
4244:
4242:
4234:
4226:
4216:
4214:
4213:
4208:
4206:
4204:
4200:
4199:
4172:
4171:
4159:
4158:
4116:
4115:
4105:
4101:
4100:
4073:
4072:
4060:
4059:
4032:
4031:
4021:
4016:
4014:
4006:
3998:
3983:
3981:
3980:
3975:
3967:
3966:
3946:
3945:
3928:
3926:
3925:
3920:
3912:
3911:
3893:
3892:
3874:
3872:
3864:
3856:
3845:
3843:
3835:
3827:
3808:
3806:
3805:
3800:
3792:
3791:
3773:
3772:
3754:
3752:
3744:
3736:
3725:
3723:
3715:
3707:
3683:
3681:
3680:
3675:
3669:
3665:
3664:
3663:
3636:
3635:
3621:
3619:
3605:
3600:
3598:
3590:
3582:
3572:
3570:
3569:
3564:
3562:
3558:
3557:
3556:
3544:
3542:
3534:
3526:
3524:
3523:
3509:
3507:
3493:
3488:
3486:
3478:
3470:
3455:
3453:
3452:
3447:
3426:
3425:
3405:
3404:
3387:
3385:
3384:
3379:
3359:
3358:
3338:
3337:
3315:
3313:
3312:
3307:
3301:
3297:
3296:
3295:
3283:
3281:
3273:
3265:
3263:
3262:
3248:
3246:
3245:
3244:
3232:
3231:
3212:
3207:
3205:
3197:
3189:
3179:
3177:
3176:
3171:
3169:
3167:
3159:
3151:
3149:
3147:
3139:
3131:
3126:
3124:
3116:
3108:
3103:
3101:
3093:
3085:
3083:
3081:
3073:
3065:
3060:
3058:
3050:
3042:
3040:
3038:
3030:
3022:
3017:
3015:
3007:
2999:
2987:
2985:
2984:
2979:
2922:
2920:
2919:
2914:
2890:
2888:
2880:
2872:
2860:
2858:
2857:
2852:
2837:
2835:
2834:
2829:
2821:
2816:
2808:
2803:
2802:
2772:
2770:
2769:
2764:
2762:
2761:
2285:
2283:
2282:
2277:
2275:
2274:
2255:
2253:
2252:
2247:
2236:
2235:
2184:
2182:
2181:
2176:
2112:
2110:
2109:
2104:
2099:
2098:
2039:
2037:
2036:
2031:
2025:
2024:
1955:
1953:
1952:
1947:
1848:
1846:
1845:
1840:
1790:
1788:
1787:
1782:
1759:
1751:
1721:
1719:
1718:
1713:
1535:Capital mobility
1523:returns to scale
1431:
1424:
1417:
1401:
1400:
1389:
1388:
1377:
1376:
1301:Alberto Fujimori
1296:Hernando de Soto
1266:Augusto Pinochet
1241:Ludwig von Mises
1001:Supranationalism
901:Economic freedom
854:
853:
844:
837:
830:
814:
813:
804:Money portal
802:
801:
800:
714:William Nordhaus
699:Robert Lucas Jr.
589:François Quesnay
225:Nominal rigidity
196:Demand for money
174:Microfoundations
110:Financial crisis
90:Effective demand
60:Aggregate supply
55:Aggregate demand
42:
19:
18:
6014:
6013:
6009:
6008:
6007:
6005:
6004:
6003:
5979:
5978:
5977:
5972:
5969:Business portal
5936:
5935:
5934:
5894:
5658:von Böhm-Bawerk
5546:
5545:
5536:
5308:Ancient thought
5286:
5285:
5279:
5270:
5269:
5268:
5019:
4984:
4936:Contract theory
4921:Decision theory
4902:
4897:
4863:
4841:
4823:
4798:
4775:
4744:
4736:Young, Warren;
4732:
4730:Further reading
4727:
4726:
4710:
4709:
4697:
4681:
4677:
4654:
4645:
4626:
4622:
4599:10.2307/3866091
4583:
4579:
4540:
4533:
4528:
4511:
4503:economic crisis
4490:and a balanced
4464:(ii) A limited
4448:
4443:
4433:
4392:
4388:
4364:
4360:
4351:
4347:
4308:
4304:
4303:
4281:
4277:
4271:
4267:
4255:
4251:
4250:
4248:
4235:
4227:
4225:
4223:
4220:
4219:
4195:
4191:
4167:
4163:
4154:
4150:
4111:
4107:
4106:
4096:
4092:
4068:
4064:
4055:
4051:
4027:
4023:
4022:
4020:
4007:
3999:
3997:
3995:
3992:
3991:
3962:
3958:
3941:
3937:
3935:
3932:
3931:
3907:
3903:
3888:
3884:
3865:
3857:
3855:
3836:
3828:
3826:
3815:
3812:
3811:
3787:
3783:
3768:
3764:
3745:
3737:
3735:
3716:
3708:
3706:
3695:
3692:
3691:
3659:
3655:
3631:
3627:
3626:
3622:
3609:
3604:
3591:
3583:
3581:
3579:
3576:
3575:
3552:
3548:
3535:
3527:
3525:
3519:
3515:
3514:
3510:
3497:
3492:
3479:
3471:
3469:
3467:
3464:
3463:
3421:
3417:
3400:
3396:
3394:
3391:
3390:
3354:
3350:
3333:
3329:
3327:
3324:
3323:
3291:
3287:
3274:
3266:
3264:
3258:
3254:
3253:
3249:
3240:
3236:
3227:
3223:
3216:
3211:
3198:
3190:
3188:
3186:
3183:
3182:
3160:
3152:
3150:
3140:
3132:
3130:
3117:
3109:
3107:
3094:
3086:
3084:
3074:
3066:
3064:
3051:
3043:
3041:
3031:
3023:
3021:
3008:
3000:
2998:
2996:
2993:
2992:
2931:
2928:
2927:
2881:
2873:
2871:
2869:
2866:
2865:
2846:
2843:
2842:
2809:
2807:
2798:
2794:
2786:
2783:
2782:
2757:
2753:
2751:
2748:
2747:
2744:
2739:
2669:
2640:
2584:
2531:
2514:
2500:is endogenous.
2489:
2446:
2429:
2416:
2408:
2394:
2343:
2308:
2270:
2266:
2264:
2261:
2260:
2231:
2227:
2204:
2201:
2200:
2158:
2155:
2154:
2151:
2128:is the nominal
2094:
2090:
2058:
2055:
2054:
2049:
2014:
2010:
1975:
1972:
1971:
1889:
1886:
1885:
1882:
1874:capital account
1866:current account
1809:
1806:
1805:
1750:
1748:
1745:
1744:
1679:
1676:
1675:
1662:
1623:is the nominal
1548:
1508:
1503:
1487:monetary policy
1447:IS-LM-BoP model
1435:
1395:
1383:
1371:
1364:
1363:
1324:Anti-capitalism
1319:
1311:
1310:
1256:Milton Friedman
1246:Walter Lippmann
1236:Friedrich Hayek
1231:
1223:
1222:
1193:
1185:
1184:
1145:Federal Reserve
1120:
1112:
1111:
1062:
1054:
1053:
1024:Austrian School
1019:
1011:
1010:
981:School vouchers
886:Balanced budget
876:
859:politics series
848:
808:
798:
796:
789:
788:
747:
739:
738:
719:Joseph Stiglitz
679:Milton Friedman
659:Friedrich Hayek
584:
574:
573:
456:
446:
445:
416:
408:
407:
393:Mundell–Fleming
388:Matching theory
326:Keynesian cross
311:
303:
302:
273:
265:
264:
50:
17:
12:
11:
5:
6012:
6002:
6001:
5996:
5991:
5974:
5973:
5971:
5966:
5961:
5956:
5951:
5946:
5941:
5938:
5937:
5933:
5932:
5927:
5917:
5912:
5906:
5905:
5904:
5902:
5896:
5895:
5893:
5892:
5885:
5880:
5875:
5870:
5865:
5860:
5855:
5850:
5845:
5840:
5835:
5830:
5825:
5820:
5815:
5810:
5805:
5800:
5795:
5790:
5785:
5780:
5775:
5770:
5765:
5760:
5755:
5750:
5745:
5740:
5735:
5730:
5725:
5720:
5715:
5710:
5705:
5700:
5695:
5690:
5685:
5680:
5675:
5670:
5665:
5660:
5655:
5650:
5645:
5640:
5635:
5630:
5625:
5620:
5615:
5610:
5605:
5600:
5595:
5590:
5585:
5580:
5575:
5570:
5565:
5560:
5555:
5549:
5547:
5541:
5538:
5537:
5535:
5534:
5529:
5524:
5519:
5514:
5509:
5504:
5503:
5502:
5492:
5491:
5490:
5480:
5475:
5470:
5469:
5468:
5458:
5453:
5448:
5447:
5446:
5445:
5444:
5434:
5429:
5414:
5409:
5404:
5399:
5394:
5389:
5384:
5379:
5374:
5372:Disequilibrium
5369:
5364:
5359:
5354:
5349:
5348:
5347:
5337:
5332:
5327:
5322:
5321:
5320:
5310:
5305:
5300:
5295:
5289:
5287:
5275:
5272:
5271:
5267:
5266:
5261:
5256:
5251:
5246:
5241:
5236:
5231:
5226:
5221:
5212:
5207:
5202:
5197:
5192:
5187:
5185:Organizational
5182:
5177:
5172:
5167:
5162:
5157:
5152:
5147:
5142:
5137:
5132:
5127:
5122:
5117:
5112:
5107:
5102:
5097:
5092:
5087:
5082:
5077:
5072:
5067:
5062:
5057:
5052:
5047:
5042:
5037:
5031:
5030:
5029:
5027:
5021:
5020:
5018:
5017:
5012:
5007:
5006:
5005:
4994:
4992:
4986:
4985:
4983:
4982:
4977:
4972:
4971:
4970:
4960:
4955:
4950:
4948:Macroeconomics
4945:
4944:
4943:
4938:
4933:
4928:
4923:
4916:Microeconomics
4912:
4910:
4904:
4903:
4896:
4895:
4888:
4881:
4873:
4867:
4866:
4861:
4844:
4839:
4831:Macroeconomics
4826:
4821:
4811:Macroeconomics
4801:
4796:
4783:
4731:
4728:
4725:
4724:
4695:
4675:
4664:(3): 231–244.
4643:
4620:
4577:
4556:10.2307/139336
4550:(4): 475–485.
4530:
4529:
4527:
4524:
4523:
4522:
4517:
4510:
4507:
4488:interest rates
4447:
4444:
4419:
4418:
4407:
4400:
4395:
4391:
4387:
4384:
4381:
4378:
4375:
4372:
4367:
4363:
4359:
4354:
4350:
4346:
4343:
4340:
4337:
4334:
4331:
4328:
4325:
4322:
4319:
4316:
4311:
4307:
4301:
4298:
4295:
4292:
4289:
4284:
4280:
4274:
4270:
4266:
4263:
4258:
4254:
4247:
4241:
4238:
4233:
4230:
4217:
4203:
4198:
4194:
4190:
4187:
4184:
4181:
4178:
4175:
4170:
4166:
4162:
4157:
4153:
4149:
4146:
4143:
4140:
4137:
4134:
4131:
4128:
4125:
4122:
4119:
4114:
4110:
4104:
4099:
4095:
4091:
4088:
4085:
4082:
4079:
4076:
4071:
4067:
4063:
4058:
4054:
4050:
4047:
4044:
4041:
4038:
4035:
4030:
4026:
4019:
4013:
4010:
4005:
4002:
3985:
3984:
3973:
3970:
3965:
3961:
3956:
3952:
3949:
3944:
3940:
3929:
3918:
3915:
3910:
3906:
3902:
3899:
3896:
3891:
3887:
3883:
3880:
3877:
3871:
3868:
3863:
3860:
3854:
3851:
3848:
3842:
3839:
3834:
3831:
3825:
3822:
3819:
3809:
3798:
3795:
3790:
3786:
3782:
3779:
3776:
3771:
3767:
3763:
3760:
3757:
3751:
3748:
3743:
3740:
3734:
3731:
3728:
3722:
3719:
3714:
3711:
3705:
3702:
3699:
3685:
3684:
3673:
3668:
3662:
3658:
3654:
3651:
3648:
3645:
3642:
3639:
3634:
3630:
3625:
3618:
3615:
3612:
3608:
3603:
3597:
3594:
3589:
3586:
3573:
3561:
3555:
3551:
3547:
3541:
3538:
3533:
3530:
3522:
3518:
3513:
3506:
3503:
3500:
3496:
3491:
3485:
3482:
3477:
3474:
3457:
3456:
3445:
3441:
3438:
3435:
3432:
3429:
3424:
3420:
3415:
3411:
3408:
3403:
3399:
3388:
3377:
3374:
3371:
3368:
3365:
3362:
3357:
3353:
3348:
3344:
3341:
3336:
3332:
3317:
3316:
3305:
3300:
3294:
3290:
3286:
3280:
3277:
3272:
3269:
3261:
3257:
3252:
3243:
3239:
3235:
3230:
3226:
3222:
3219:
3215:
3210:
3204:
3201:
3196:
3193:
3180:
3166:
3163:
3158:
3155:
3146:
3143:
3138:
3135:
3129:
3123:
3120:
3115:
3112:
3106:
3100:
3097:
3092:
3089:
3080:
3077:
3072:
3069:
3063:
3057:
3054:
3049:
3046:
3037:
3034:
3029:
3026:
3020:
3014:
3011:
3006:
3003:
2977:
2974:
2971:
2968:
2965:
2962:
2959:
2956:
2953:
2950:
2947:
2944:
2941:
2938:
2935:
2924:
2923:
2912:
2908:
2905:
2902:
2899:
2896:
2893:
2887:
2884:
2879:
2876:
2850:
2839:
2838:
2827:
2824:
2819:
2815:
2812:
2806:
2801:
2797:
2793:
2790:
2760:
2756:
2743:
2740:
2738:
2735:
2668:
2665:
2639:
2636:
2583:
2580:
2530:
2527:
2513:
2510:
2488:
2485:
2445:
2442:
2428:
2425:
2415:
2412:
2407:
2404:
2393:
2390:
2372:curve and the
2361:analysis; the
2342:
2339:
2307:
2304:
2273:
2269:
2257:
2256:
2245:
2242:
2239:
2234:
2230:
2226:
2223:
2220:
2217:
2214:
2211:
2208:
2186:
2185:
2174:
2171:
2168:
2165:
2162:
2150:
2147:
2114:
2113:
2102:
2097:
2093:
2089:
2086:
2083:
2080:
2077:
2074:
2071:
2068:
2065:
2062:
2047:
2041:
2040:
2028:
2023:
2020:
2017:
2013:
2009:
2006:
2003:
2000:
1997:
1994:
1991:
1988:
1985:
1982:
1979:
1957:
1956:
1944:
1941:
1938:
1935:
1932:
1929:
1926:
1923:
1920:
1917:
1914:
1911:
1908:
1905:
1902:
1899:
1896:
1893:
1881:
1878:
1850:
1849:
1837:
1834:
1831:
1828:
1825:
1822:
1819:
1816:
1813:
1792:
1791:
1780:
1777:
1774:
1771:
1768:
1765:
1762:
1757:
1754:
1723:
1722:
1710:
1707:
1704:
1701:
1698:
1695:
1692:
1689:
1686:
1683:
1661:
1658:
1657:
1656:
1647:
1637:
1627:
1618:
1609:
1600:
1586:
1573:
1564:
1547:
1544:
1543:
1542:
1539:
1532:
1529:
1526:
1515:
1507:
1504:
1502:
1499:
1463:Marcus Fleming
1459:Robert Mundell
1451:IS-LM-BP model
1437:
1436:
1434:
1433:
1426:
1419:
1411:
1408:
1407:
1406:
1405:
1393:
1381:
1366:
1365:
1362:
1361:
1356:
1351:
1346:
1341:
1336:
1331:
1326:
1320:
1318:Related topics
1317:
1316:
1313:
1312:
1309:
1308:
1303:
1298:
1293:
1291:Alan Greenspan
1288:
1283:
1278:
1273:
1268:
1263:
1258:
1253:
1248:
1243:
1238:
1232:
1229:
1228:
1225:
1224:
1221:
1220:
1215:
1210:
1205:
1200:
1194:
1191:
1190:
1187:
1186:
1183:
1182:
1177:
1172:
1167:
1162:
1157:
1152:
1147:
1142:
1140:European Union
1137:
1132:
1127:
1121:
1118:
1117:
1114:
1113:
1110:
1109:
1104:
1099:
1094:
1089:
1084:
1079:
1074:
1069:
1063:
1060:
1059:
1056:
1055:
1052:
1051:
1046:
1041:
1036:
1031:
1029:Chicago School
1026:
1020:
1017:
1016:
1013:
1012:
1009:
1008:
1003:
998:
993:
988:
983:
978:
973:
968:
963:
961:Market economy
958:
953:
948:
943:
938:
928:
923:
918:
913:
908:
903:
898:
893:
888:
883:
877:
874:
873:
870:
869:
863:
862:
850:
849:
847:
846:
839:
832:
824:
821:
820:
819:
818:
806:
791:
790:
787:
786:
781:
776:
774:Microeconomics
771:
770:
769:
759:
754:
748:
745:
744:
741:
740:
737:
736:
731:
726:
721:
716:
711:
706:
701:
696:
691:
689:Lawrence Klein
686:
684:Paul Samuelson
681:
676:
671:
666:
661:
656:
651:
646:
641:
639:Michał Kalecki
636:
631:
626:
621:
616:
611:
606:
601:
596:
591:
585:
580:
579:
576:
575:
572:
571:
566:
561:
559:Disequilibrium
556:
555:
554:
547:Post-Keynesian
544:
539:
538:
537:
527:
516:
515:
510:
505:
500:
495:
494:
493:
483:
478:
477:
476:
471:
457:
452:
451:
448:
447:
444:
443:
438:
433:
428:
423:
417:
415:Related fields
414:
413:
410:
409:
406:
405:
400:
395:
390:
385:
380:
379:
378:
368:
363:
358:
353:
348:
343:
341:Phillips curve
338:
333:
328:
323:
318:
312:
309:
308:
305:
304:
301:
300:
295:
290:
285:
280:
274:
271:
270:
267:
266:
263:
262:
257:
252:
247:
242:
237:
232:
227:
222:
221:
220:
210:
205:
204:
203:
193:
191:Money creation
188:
187:
186:
176:
171:
170:
169:
164:
159:
149:
147:Liquidity trap
144:
139:
134:
133:
132:
127:
117:
112:
107:
106:
105:
100:
92:
87:
82:
77:
72:
67:
65:Business cycle
62:
57:
51:
49:Basic concepts
48:
47:
44:
43:
35:
34:
32:Macroeconomics
28:
27:
16:Economic model
15:
9:
6:
4:
3:
2:
6011:
6000:
5997:
5995:
5992:
5990:
5987:
5986:
5984:
5970:
5967:
5965:
5962:
5960:
5957:
5955:
5952:
5950:
5947:
5945:
5942:
5939:
5931:
5928:
5925:
5921:
5918:
5916:
5913:
5911:
5908:
5907:
5903:
5901:
5897:
5891:
5890:
5886:
5884:
5881:
5879:
5876:
5874:
5871:
5869:
5866:
5864:
5861:
5859:
5856:
5854:
5851:
5849:
5846:
5844:
5841:
5839:
5836:
5834:
5831:
5829:
5826:
5824:
5821:
5819:
5816:
5814:
5811:
5809:
5806:
5804:
5801:
5799:
5796:
5794:
5791:
5789:
5786:
5784:
5781:
5779:
5776:
5774:
5771:
5769:
5766:
5764:
5761:
5759:
5756:
5754:
5751:
5749:
5746:
5744:
5741:
5739:
5736:
5734:
5731:
5729:
5726:
5724:
5721:
5719:
5716:
5714:
5711:
5709:
5706:
5704:
5701:
5699:
5696:
5694:
5691:
5689:
5686:
5684:
5681:
5679:
5676:
5674:
5671:
5669:
5666:
5664:
5661:
5659:
5656:
5654:
5651:
5649:
5646:
5644:
5641:
5639:
5636:
5634:
5631:
5629:
5626:
5624:
5621:
5619:
5616:
5614:
5611:
5609:
5606:
5604:
5601:
5599:
5596:
5594:
5591:
5589:
5586:
5584:
5581:
5579:
5576:
5574:
5571:
5569:
5566:
5564:
5561:
5559:
5556:
5554:
5553:de Mandeville
5551:
5550:
5548:
5544:
5539:
5533:
5530:
5528:
5525:
5523:
5520:
5518:
5515:
5513:
5510:
5508:
5505:
5501:
5498:
5497:
5496:
5495:New classical
5493:
5489:
5486:
5485:
5484:
5481:
5479:
5476:
5474:
5471:
5467:
5464:
5463:
5462:
5459:
5457:
5454:
5452:
5451:Malthusianism
5449:
5443:
5440:
5439:
5438:
5435:
5433:
5430:
5427:
5423:
5420:
5419:
5418:
5415:
5413:
5412:Institutional
5410:
5408:
5405:
5403:
5400:
5398:
5395:
5393:
5390:
5388:
5385:
5383:
5380:
5378:
5375:
5373:
5370:
5368:
5365:
5363:
5360:
5358:
5355:
5353:
5350:
5346:
5343:
5342:
5341:
5338:
5336:
5333:
5331:
5328:
5326:
5323:
5319:
5316:
5315:
5314:
5311:
5309:
5306:
5304:
5301:
5299:
5296:
5294:
5291:
5290:
5288:
5283:
5278:
5273:
5265:
5262:
5260:
5257:
5255:
5252:
5250:
5247:
5245:
5242:
5240:
5237:
5235:
5232:
5230:
5227:
5225:
5222:
5220:
5216:
5215:Public choice
5213:
5211:
5208:
5206:
5203:
5201:
5198:
5196:
5193:
5191:
5190:Participation
5188:
5186:
5183:
5181:
5178:
5176:
5173:
5171:
5168:
5166:
5163:
5161:
5158:
5156:
5153:
5151:
5150:Institutional
5148:
5146:
5143:
5141:
5138:
5136:
5133:
5131:
5128:
5126:
5123:
5121:
5118:
5116:
5113:
5111:
5108:
5106:
5103:
5101:
5100:Expeditionary
5098:
5096:
5093:
5091:
5090:Environmental
5088:
5086:
5083:
5081:
5078:
5076:
5073:
5071:
5068:
5066:
5063:
5061:
5058:
5056:
5053:
5051:
5048:
5046:
5043:
5041:
5038:
5036:
5033:
5032:
5028:
5026:
5022:
5016:
5013:
5011:
5008:
5004:
5001:
5000:
4999:
4996:
4995:
4993:
4991:
4987:
4981:
4978:
4976:
4973:
4969:
4966:
4965:
4964:
4961:
4959:
4956:
4954:
4951:
4949:
4946:
4942:
4939:
4937:
4934:
4932:
4929:
4927:
4924:
4922:
4919:
4918:
4917:
4914:
4913:
4911:
4909:
4905:
4901:
4894:
4889:
4887:
4882:
4880:
4875:
4874:
4871:
4864:
4862:0-19-877632-2
4858:
4853:
4852:
4845:
4842:
4840:0-13-186026-7
4836:
4832:
4827:
4824:
4818:
4813:
4812:
4806:
4802:
4799:
4797:0-19-877245-9
4793:
4789:
4784:
4778:on 2009-02-19
4774:
4770:
4766:
4762:
4758:
4754:
4750:
4743:
4739:
4734:
4733:
4720:
4714:
4706:
4702:
4698:
4692:
4688:
4687:
4679:
4671:
4667:
4663:
4659:
4652:
4650:
4648:
4639:
4635:
4631:
4624:
4616:
4611:Reprinted in
4608:
4604:
4600:
4596:
4592:
4588:
4581:
4573:
4568:Reprinted in
4565:
4561:
4557:
4553:
4549:
4545:
4538:
4536:
4531:
4521:
4518:
4516:
4513:
4512:
4506:
4504:
4499:
4497:
4496:national debt
4493:
4489:
4484:
4482:
4478:
4473:
4471:
4467:
4462:
4460:
4459:gold standard
4455:
4453:
4442:
4438:
4437:exchange rate
4432:
4428:
4423:
4405:
4393:
4389:
4385:
4379:
4376:
4373:
4365:
4361:
4352:
4348:
4344:
4338:
4335:
4332:
4323:
4320:
4317:
4309:
4305:
4296:
4293:
4290:
4282:
4278:
4272:
4268:
4264:
4261:
4256:
4252:
4245:
4239:
4236:
4231:
4228:
4218:
4196:
4192:
4188:
4182:
4179:
4176:
4168:
4164:
4155:
4151:
4147:
4141:
4138:
4135:
4126:
4123:
4120:
4112:
4108:
4097:
4093:
4089:
4083:
4080:
4077:
4069:
4065:
4056:
4052:
4048:
4042:
4039:
4036:
4028:
4024:
4017:
4011:
4008:
4003:
4000:
3990:
3989:
3988:
3971:
3968:
3963:
3959:
3954:
3950:
3947:
3942:
3938:
3930:
3916:
3913:
3908:
3904:
3900:
3897:
3894:
3889:
3885:
3881:
3878:
3875:
3869:
3861:
3852:
3849:
3846:
3840:
3832:
3823:
3820:
3817:
3810:
3796:
3793:
3788:
3784:
3780:
3777:
3774:
3769:
3765:
3761:
3758:
3755:
3749:
3741:
3732:
3729:
3726:
3720:
3712:
3703:
3700:
3697:
3690:
3689:
3688:
3671:
3666:
3660:
3656:
3652:
3646:
3643:
3640:
3632:
3628:
3623:
3616:
3613:
3610:
3606:
3601:
3595:
3592:
3587:
3584:
3574:
3559:
3553:
3549:
3545:
3539:
3536:
3531:
3528:
3520:
3516:
3511:
3504:
3501:
3498:
3494:
3489:
3483:
3480:
3475:
3472:
3462:
3461:
3460:
3443:
3439:
3436:
3433:
3430:
3427:
3422:
3418:
3413:
3409:
3406:
3401:
3397:
3389:
3375:
3372:
3369:
3366:
3363:
3360:
3355:
3351:
3346:
3342:
3339:
3334:
3330:
3322:
3321:
3320:
3303:
3298:
3292:
3288:
3284:
3278:
3275:
3270:
3267:
3259:
3255:
3250:
3241:
3237:
3233:
3228:
3224:
3220:
3217:
3213:
3208:
3202:
3199:
3194:
3191:
3181:
3164:
3161:
3156:
3153:
3144:
3136:
3127:
3121:
3113:
3104:
3098:
3095:
3090:
3087:
3078:
3070:
3061:
3055:
3052:
3047:
3044:
3035:
3027:
3018:
3012:
3009:
3004:
3001:
2991:
2990:
2989:
2972:
2969:
2966:
2960:
2957:
2951:
2948:
2945:
2939:
2936:
2933:
2910:
2906:
2903:
2900:
2897:
2894:
2891:
2885:
2882:
2877:
2874:
2864:
2863:
2862:
2848:
2825:
2822:
2817:
2813:
2810:
2804:
2799:
2795:
2791:
2788:
2781:
2780:
2779:
2777:
2758:
2754:
2734:
2732:
2727:
2722:
2718:
2713:
2711:
2707:
2703:
2699:
2695:
2691:
2686:
2682:
2678:
2673:
2664:
2661:
2656:
2653:
2649:
2645:
2635:
2633:
2628:
2623:
2621:
2616:
2615:interaction.
2614:
2610:
2606:
2602:
2598:
2593:
2588:
2579:
2576:
2574:
2570:
2566:
2562:
2558:
2554:
2549:
2541:
2535:
2526:
2524:
2523:sterilization
2520:
2509:
2506:
2501:
2499:
2495:
2484:
2481:
2479:
2475:
2471:
2467:
2463:
2459:
2455:
2451:
2441:
2439:
2434:
2424:
2421:
2411:
2403:
2400:
2397:
2389:
2387:
2383:
2382:cross-section
2379:
2375:
2371:
2366:
2364:
2360:
2356:
2352:
2348:
2338:
2335:
2330:
2328:
2325:
2321:
2317:
2313:
2303:
2301:
2297:
2293:
2289:
2271:
2267:
2243:
2240:
2232:
2228:
2224:
2221:
2215:
2212:
2209:
2206:
2199:
2198:
2197:
2195:
2191:
2172:
2169:
2166:
2163:
2160:
2153:
2152:
2146:
2144:
2139:
2135:
2131:
2130:exchange rate
2127:
2123:
2119:
2095:
2091:
2087:
2084:
2081:
2078:
2072:
2069:
2066:
2063:
2060:
2053:
2052:
2051:
2046:
2021:
2018:
2015:
2011:
2007:
2001:
1995:
1992:
1989:
1983:
1980:
1977:
1970:
1969:
1968:
1966:
1962:
1936:
1930:
1927:
1924:
1921:
1915:
1909:
1906:
1903:
1897:
1894:
1891:
1884:
1883:
1880:IS components
1877:
1875:
1871:
1868:surplus, and
1867:
1863:
1859:
1855:
1835:
1832:
1829:
1826:
1823:
1820:
1817:
1814:
1811:
1804:
1803:
1802:
1800:
1795:
1775:
1772:
1769:
1763:
1760:
1755:
1752:
1743:
1742:
1741:
1739:
1734:
1732:
1728:
1708:
1705:
1702:
1699:
1696:
1693:
1690:
1687:
1684:
1681:
1674:
1673:
1672:
1670:
1665:
1655:
1651:
1648:
1645:
1641:
1638:
1635:
1631:
1628:
1626:
1625:interest rate
1622:
1619:
1617:
1613:
1610:
1608:
1604:
1601:
1598:
1594:
1590:
1587:
1585:
1581:
1577:
1574:
1572:
1568:
1565:
1563:
1560:
1556:
1553:
1552:
1551:
1540:
1536:
1533:
1530:
1527:
1524:
1520:
1516:
1513:
1512:
1511:
1498:
1496:
1492:
1488:
1484:
1480:
1474:
1472:
1468:
1464:
1460:
1456:
1452:
1448:
1444:
1432:
1427:
1425:
1420:
1418:
1413:
1412:
1410:
1409:
1404:
1399:
1394:
1392:
1387:
1382:
1380:
1375:
1370:
1369:
1368:
1367:
1360:
1357:
1355:
1352:
1350:
1347:
1345:
1342:
1340:
1337:
1335:
1332:
1330:
1327:
1325:
1322:
1321:
1315:
1314:
1307:
1304:
1302:
1299:
1297:
1294:
1292:
1289:
1287:
1286:Roger Douglas
1284:
1282:
1279:
1277:
1276:Ronald Reagan
1274:
1272:
1269:
1267:
1264:
1262:
1259:
1257:
1254:
1252:
1251:Louis Rougier
1249:
1247:
1244:
1242:
1239:
1237:
1234:
1233:
1227:
1226:
1219:
1216:
1214:
1211:
1209:
1206:
1204:
1201:
1199:
1196:
1195:
1192:Organizations
1189:
1188:
1181:
1178:
1176:
1173:
1171:
1168:
1166:
1163:
1161:
1158:
1156:
1153:
1151:
1148:
1146:
1143:
1141:
1138:
1136:
1133:
1131:
1128:
1126:
1123:
1122:
1116:
1115:
1108:
1105:
1103:
1100:
1098:
1095:
1093:
1090:
1088:
1087:New Democrats
1085:
1083:
1080:
1078:
1075:
1073:
1070:
1068:
1065:
1064:
1058:
1057:
1050:
1047:
1045:
1042:
1040:
1037:
1035:
1032:
1030:
1027:
1025:
1022:
1021:
1015:
1014:
1007:
1004:
1002:
999:
997:
994:
992:
991:Single market
989:
987:
986:Shock therapy
984:
982:
979:
977:
974:
972:
971:Privatization
969:
967:
964:
962:
959:
957:
956:Marketization
954:
952:
949:
947:
944:
942:
941:Globalization
939:
936:
932:
929:
927:
924:
922:
919:
917:
914:
912:
909:
907:
904:
902:
899:
897:
894:
892:
889:
887:
884:
882:
879:
878:
872:
871:
868:
867:Neoliberalism
865:
864:
860:
856:
855:
845:
840:
838:
833:
831:
826:
825:
823:
822:
817:
812:
807:
805:
795:
794:
793:
792:
785:
782:
780:
777:
775:
772:
768:
765:
764:
763:
760:
758:
755:
753:
750:
749:
743:
742:
735:
732:
730:
727:
725:
722:
720:
717:
715:
712:
710:
709:Peter Diamond
707:
705:
702:
700:
697:
695:
694:Edmund Phelps
692:
690:
687:
685:
682:
680:
677:
675:
672:
670:
669:Richard Stone
667:
665:
662:
660:
657:
655:
654:Joan Robinson
652:
650:
649:Simon Kuznets
647:
645:
644:Gunnar Myrdal
642:
640:
637:
635:
632:
630:
627:
625:
622:
620:
619:Irving Fisher
617:
615:
614:Knut Wicksell
612:
610:
607:
605:
602:
600:
597:
595:
592:
590:
587:
586:
583:
578:
577:
570:
567:
565:
562:
560:
557:
553:
550:
549:
548:
545:
543:
540:
536:
533:
532:
531:
528:
526:
523:
522:
521:
520:
514:
511:
509:
506:
504:
501:
499:
496:
492:
489:
488:
487:
486:New classical
484:
482:
479:
475:
472:
470:
467:
466:
465:
462:
461:
460:
455:
450:
449:
442:
439:
437:
434:
432:
429:
427:
424:
422:
419:
418:
412:
411:
404:
401:
399:
396:
394:
391:
389:
386:
384:
381:
377:
374:
373:
372:
369:
367:
364:
362:
359:
357:
354:
352:
349:
347:
344:
342:
339:
337:
334:
332:
329:
327:
324:
322:
319:
317:
314:
313:
307:
306:
299:
296:
294:
291:
289:
286:
284:
281:
279:
276:
275:
269:
268:
261:
258:
256:
253:
251:
248:
246:
243:
241:
240:Shrinkflation
238:
236:
233:
231:
228:
226:
223:
219:
216:
215:
214:
211:
209:
206:
202:
199:
198:
197:
194:
192:
189:
185:
182:
181:
180:
177:
175:
172:
168:
165:
163:
160:
158:
155:
154:
153:
150:
148:
145:
143:
140:
138:
137:Interest rate
135:
131:
128:
126:
123:
122:
121:
118:
116:
113:
111:
108:
104:
101:
99:
96:
95:
94:Expectations
93:
91:
88:
86:
83:
81:
78:
76:
73:
71:
68:
66:
63:
61:
58:
56:
53:
52:
46:
45:
41:
37:
36:
33:
30:
29:
25:
21:
20:
5964:Publications
5920:Publications
5887:
5483:Neoclassical
5473:Mercantilism
5382:Evolutionary
5244:Sociological
5217: /
5115:Geographical
5095:Evolutionary
5070:Digitization
5035:Agricultural
4998:Econometrics
4926:Price theory
4850:
4830:
4810:
4787:
4773:the original
4752:
4748:
4685:
4678:
4661:
4657:
4629:
4623:
4614:
4590:
4586:
4580:
4571:
4547:
4543:
4500:
4485:
4474:
4470:gold reserve
4463:
4456:
4452:Charles Read
4449:
4420:
3986:
3686:
3458:
3318:
2925:
2840:
2745:
2730:
2725:
2720:
2716:
2714:
2709:
2705:
2701:
2697:
2693:
2689:
2684:
2680:
2676:
2674:
2670:
2659:
2657:
2651:
2648:open economy
2643:
2641:
2631:
2626:
2624:
2619:
2617:
2612:
2608:
2604:
2600:
2596:
2591:
2589:
2585:
2577:
2572:
2568:
2564:
2560:
2556:
2552:
2547:
2545:
2539:
2515:
2502:
2497:
2493:
2490:
2482:
2477:
2473:
2469:
2465:
2461:
2457:
2453:
2449:
2447:
2437:
2432:
2430:
2419:
2417:
2409:
2401:
2398:
2395:
2385:
2377:
2373:
2369:
2367:
2362:
2358:
2354:
2350:
2346:
2344:
2333:
2331:
2326:
2319:
2309:
2299:
2295:
2291:
2287:
2258:
2193:
2189:
2187:
2142:
2137:
2136:is GDP, and
2133:
2125:
2117:
2115:
2044:
2042:
1960:
1958:
1869:
1861:
1853:
1851:
1798:
1796:
1793:
1737:
1735:
1726:
1724:
1668:
1666:
1663:
1649:
1639:
1634:money demand
1629:
1620:
1611:
1607:money supply
1602:
1588:
1575:
1566:
1554:
1549:
1517:Fixed money
1509:
1501:Basic set-up
1475:
1450:
1446:
1442:
1440:
1306:Bill Clinton
1203:Chicago boys
1049:Trickle-down
1039:Neoclassical
965:
951:Laffer curve
926:Free markets
896:Deregulation
857:Part of the
729:Paul Krugman
674:Hyman Minsky
634:Alvin Hansen
518:
517:
458:
421:Econometrics
398:Overshooting
392:
351:Harrod–Domar
346:Arrow–Debreu
293:Central bank
260:Unemployment
250:Supply shock
208:Money supply
85:Disinflation
80:Demand shock
5758:von Neumann
5527:Supply-side
5512:Physiocracy
5456:Marginalism
5145:Information
5085:Engineering
5065:Development
5060:Demographic
4931:Game theory
4908:Theoretical
4593:: 369–379.
2679:model, the
2559:graph, the
2122:net exports
1654:net exports
1616:price level
1571:consumption
1506:Assumptions
1467:IS–LM model
1344:Blatcherism
1102:Rogernomics
1097:Reaganomics
1077:Thatcherism
1044:Supply-side
609:Léon Walras
503:Supply-side
336:Accelerator
245:Stagflation
230:Price level
125:Demand-pull
5983:Categories
5915:Economists
5788:Schumacher
5693:Schumpeter
5663:von Wieser
5583:von Thünen
5543:Economists
5442:Circuitism
5407:Humanistic
5402:Historical
5377:Ecological
5367:Democratic
5340:Chartalism
5330:Behavioral
5293:Mainstream
5254:Statistics
5249:Solidarity
5170:Managerial
5135:Humanistic
5130:Historical
5075:Ecological
5040:Behavioral
4705:1365041253
4526:References
4481:free trade
4446:Inferences
4435:See also:
4425:See also:
1175:World Bank
1119:Governance
1072:Fujimorism
1034:Monetarism
931:Free trade
664:John Hicks
594:Adam Smith
552:Circuitism
542:Ecological
530:Chartalism
481:Monetarism
459:Mainstream
356:Solow–Swan
331:Multiplier
288:Commercial
184:Endogenous
142:Investment
5833:Greenspan
5798:Samuelson
5778:Galbraith
5748:Tinbergen
5688:von Mises
5683:Heckscher
5643:Edgeworth
5522:Stockholm
5517:Socialist
5417:Keynesian
5397:Happiness
5357:Classical
5318:Mutualism
5313:Anarchist
5298:Heterodox
5195:Personnel
5155:Knowledge
5120:Happiness
5110:Financial
5080:Education
5055:Democracy
4990:Empirical
4900:Economics
4769:155035113
4713:cite book
4377:−
4374:σ
4321:−
4318:σ
4294:−
4291:σ
4180:−
4177:σ
4124:−
4121:σ
4081:−
4078:σ
3867:∂
3859:∂
3838:∂
3830:∂
3747:∂
3739:∂
3718:∂
3710:∂
3644:−
3641:σ
3431:−
3367:−
3234:−
3221:−
3142:∂
3134:∂
3119:∂
3111:∂
3076:∂
3068:∂
3033:∂
3025:∂
2898:−
2895:σ
2849:σ
2823:−
2800:⋆
2759:⋆
2737:Criticism
2557:IS-LM-BoP
2347:IS-LM-BoP
2272:∗
2233:∗
2225:−
2096:∗
2019:−
2002:π
1993:−
1965:inflation
1937:π
1928:−
1907:−
1876:surplus.
1860:surplus,
1660:Equations
1546:Variables
1519:wage rate
1453:), is an
1218:Third Way
1082:Third Way
1061:Movements
1018:Economics
881:Austerity
762:Economics
604:Karl Marx
519:Heterodox
498:Stockholm
464:Keynesian
235:Recession
130:Cost-push
120:Inflation
75:Deflation
5944:Category
5924:journals
5910:Glossary
5863:Stiglitz
5828:Rothbard
5808:Buchanan
5793:Friedman
5783:Koopmans
5773:Leontief
5753:Robinson
5638:Marshall
5488:Lausanne
5392:Georgism
5387:Feminist
5335:Buddhist
5325:Austrian
5224:Regional
5200:Planning
5175:Monetary
5105:Feminist
5050:Cultural
5045:Business
4807:(2007),
4740:(2004),
4638:40042939
4509:See also
4466:banknote
2814:′
1652:is real
1642:is real
1591:is real
1578:is real
1569:is real
1495:trilemma
1455:economic
1160:MERCOSUR
1006:Tax cuts
746:See also
525:Austrian
283:Monetary
272:Policies
103:Rational
98:Adaptive
24:a series
22:Part of
5959:Outline
5930:Schools
5922: (
5883:Piketty
5878:Krugman
5743:Kuznets
5733:Kalecki
5708:Polanyi
5598:Cournot
5593:Bastiat
5578:Ricardo
5568:Malthus
5558:Quesnay
5461:Marxian
5352:Chicago
5282:history
5277:Schools
5264:Welfare
5234:Service
5025:Applied
4607:3866091
4477:tariffs
2667:Example
2658:In the
1872:is the
1864:is the
1856:is the
1740:curve:
1731:exports
1729:is net
1671:curve:
1471:autarky
767:Applied
564:Marxian
454:Schools
5868:Thaler
5848:Ostrom
5843:Becker
5838:Sowell
5818:Baumol
5723:Myrdal
5718:Sraffa
5713:Frisch
5703:Knight
5698:Keynes
5673:Fisher
5668:Veblen
5653:Pareto
5633:Menger
5628:George
5623:Jevons
5618:Walras
5608:Gossen
5532:Thermo
5210:Public
5205:Policy
5160:Labour
5125:Health
4859:
4837:
4819:
4794:
4767:
4703:
4693:
4636:
4605:
4564:139336
4562:
4492:budget
2613:IS-BoP
2318:while
2259:where
2188:where
2116:where
2043:where
1959:where
1852:where
1725:where
1646:levied
1230:People
582:People
310:Models
278:Fiscal
255:Saving
115:Growth
5954:Lists
5949:Index
5900:Lists
5873:Hoppe
5858:Lucas
5823:Solow
5813:Arrow
5803:Simon
5768:Lange
5763:Hicks
5738:Röpke
5728:Hayek
5678:Pigou
5648:Clark
5563:Smith
5478:Mixed
5437:Post-
5259:Urban
5239:Socio
5229:Rural
4776:(PDF)
4765:S2CID
4745:(PDF)
4634:JSTOR
4603:JSTOR
4560:JSTOR
2717:IS-LM
2677:IS-LM
2660:IS-LM
2652:IS-LM
2644:IS-LM
2378:IS-LM
2359:IS-LM
1644:taxes
1538:rate.
875:Ideas
403:NAIRU
321:AD–AS
316:IS–LM
179:Money
5889:more
5613:Marx
5603:Mill
5588:List
5466:Neo-
5422:Neo-
4857:ISBN
4835:ISBN
4817:ISBN
4792:ISBN
4719:link
4701:OCLC
4691:ISBN
4439:and
4429:and
3969:>
3948:<
3437:<
3407:>
3373:>
3340:<
2904:<
2708:and
2603:and
2567:and
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1595:(an
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1461:and
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469:Neo-
376:DSGE
70:CAGR
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4757:doi
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4595:doi
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2710:BoP
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2363:BoP
2320:BoP
2302:).
2120:is
2048:t-1
1854:BoP
1799:BoP
1562:GDP
1557:is
1497:."
474:New
218:SNA
167:NNI
162:GNI
157:GDP
5985::
4763:,
4753:36
4751:,
4747:,
4715:}}
4711:{{
4699:.
4660:.
4646:^
4601:.
4589:.
4558:.
4548:29
4546:.
4534:^
4498:.
4472:.
2731:LM
2726:LM
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5280:(
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4759::
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4640:.
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3762:=
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3704:=
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3647:1
3638:(
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3624:(
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3512:(
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3444:.
3440:0
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3428:=
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3419:T
3414:,
3410:0
3402:e
3398:T
3376:0
3370:s
3364:1
3361:=
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3304:.
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3293:e
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3251:(
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3225:E
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3209:=
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3088:d
3079:y
3071:E
3062:+
3056:e
3053:d
3048:i
3045:d
3036:i
3028:E
3019:=
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3010:d
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2976:)
2973:y
2970:,
2967:e
2964:(
2961:T
2958:+
2955:)
2952:y
2949:,
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2943:(
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2937:=
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2907:0
2901:1
2892:=
2886:e
2883:d
2878:i
2875:d
2826:1
2818:e
2811:e
2805:+
2796:i
2792:=
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2334:M
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2296:z
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2288:k
2268:i
2244:k
2241:+
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2229:i
2222:i
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2173:X
2170:N
2167:=
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2161:C
2143:e
2134:Y
2126:e
2101:)
2092:Y
2088:,
2085:Y
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2076:(
2073:X
2070:N
2067:=
2064:X
2061:N
2045:Y
2027:)
2022:1
2016:t
2012:Y
2008:,
2005:)
1999:(
1996:E
1990:i
1987:(
1984:I
1981:=
1978:I
1961:E
1943:)
1940:)
1934:(
1931:E
1925:i
1922:,
1919:)
1916:Y
1913:(
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1904:Y
1901:(
1898:C
1895:=
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1836:A
1833:K
1830:+
1827:A
1824:C
1821:=
1818:P
1815:o
1812:B
1779:)
1776:Y
1773:,
1770:i
1767:(
1764:L
1761:=
1756:P
1753:M
1709:X
1706:N
1703:+
1700:G
1697:+
1694:I
1691:+
1688:C
1685:=
1682:Y
1640:T
1636:)
1630:L
1621:i
1612:P
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1589:G
1576:I
1567:C
1555:Y
1430:e
1423:t
1416:v
937:)
933:(
843:e
836:t
829:v
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