Abstract
The literature survey of the previous chapter indicates that the openness of the German economy has concerned many researchers. Macromodels are “opened up” to include external factors which affect the domestic economy through different channels. Empirical results, revealing structural breaks in the behavior of macrovariables and their relationships, are attributed to the transition from fixed to more flexible exchange rates in the early 1970’s. Yet, few authors subject their open economy modifications to rigorous statistical tests.
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© 1989 Springer-Verlag Berlin Heidelberg
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Sauer, C. (1989). Fixed Versus Flexible Exchange Rates in the Open Economy: Theory and Reality. In: Alternative Theories of Output, Unemployment, and Inflation in Germany: 1960–1985. Lecture Notes in Economics and Mathematical Systems, vol 326. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-45662-6_4
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DOI: https://doi.org/10.1007/978-3-642-45662-6_4
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-50908-0
Online ISBN: 978-3-642-45662-6
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