College aantekeningen
THE EXCHANGE RATE AND THE BALANCE OF PAYMENTS
- Vak
- Instelling
Chapter 9 is the last of four that examine the long-run trends of the economy. It uses the quantity theory result from Chapter 8 that in the long run, the price level is determined by the quantity of money. This result is used to show that in the long run, the nominal exchange rate is determined by...
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