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Open economy macroeconomics basic concepts chapter 31 copyright c 2001 by harcourt inc all rights reserved requests for permission to make copies of any part of the work should be mailed to permissions department harcourt college publishers 6277 sea harbor drive orlando florida 32887 6777. Chapter 2an open endowment economy chapter 3an open economy with capital chapter 4the open economy real business cycle model chapter 5 . Clearly other things equal the open economy multiplier is smaller than the closed economy multiplier where mpm 0 the operation of monetary policy has new implications in an open economy an important example involves the operation of monetary policy in a small open economy that has a high degree of capital mobility. Open economy macroeconomics basic concepts oopen and closed economies oa closed economy is one that does not interact with other economies in the world othere are no exports no imports and no capital flows oan open economy is one that interacts freely with other economies around the world. Open economy macroeconomics martin uribe stephanie schmitt grohe on amazoncom free shipping on qualifying offers a cutting edge graduate level
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