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Indeterminacy in Open Economies

  • Kazuo Mino
Chapter
Part of the Advances in Japanese Business and Economics book series (AJBE, volume 13)

Abstract

In the previous chapters, we restrict our attention to closed-economy models. This chapter examines equilibrium indeterminacy in open economies. The central concern of this chapter is to explore how international transactions affect the dynamic behaviors of macroeconomies. In particular, we focus on the difference in the indeterminacy conditions between open economies and their closed economy counterparts. We first discuss small open economies and then explore the world economy consisting of two large countries.

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Copyright information

© Springer Japan KK 2017

Authors and Affiliations

  • Kazuo Mino
    • 1
  1. 1.Kyoto University Institute of Economic ResearchKyotoJapan

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