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Dynamic Response to Foreign Transfers and Terms-of-trade Shocks in Open Economies

Klaus Schmidt-HebbelLuis Serven

出版	World Bank Publications, 1992
URL	http://books.google.com.hk/books?id=n6fMmi3zB48C&hl=&source=gbs_api
EBook	SAMPLE

註釋

Both permanent and transitory disturbances can change long- run capacity and output -- although they may have opposite effects on the current account. Liquidity constraints and wage rigidities tend to amplify the cyclical adjustment to external shocks.