Growth, control and tensions in an open socialist economy
✍ Scribed by András Simonovits
- Publisher
- Springer US
- Year
- 1986
- Tongue
- English
- Weight
- 928 KB
- Volume
- 20
- Category
- Article
- ISSN
- 1573-9414
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📜 SIMILAR VOLUMES
In this paper, we develop a general model of an imperfectly competitive small open economy. There is a traded and non-traded sector, whose outputs are combined in order to produce a single ÿnal good that can be either consumed or invested. We make general assumptions about preferences and technology
## Abstract This paper develops a model of inflation targeting in a small open economy under floating exchange rates. The central bank follows a simple Taylor rule to achieve a target inflation rate, and the inflation process itself is determined by an expectations augmented Phillips curve mechanis