Titlebook: Essays in Macroeconomics of an Open Economy; Franz Gehrels Book 1991 Springer-Verlag Berlin Heidelberg 1991 Growth.Inflation.Macroeconomic

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Risk Averse, Time Optimizing Behavior Of Households: Comparison With German Microcensus Data,e balance of payments. These in turn may confirm expectations at the base of decisions made, or they may call for revisions. But there is no agreed-on mechanism which brings the economy back to full employment, stable prices, and external balance.

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Growth Once More: Income And Claims To Wealth,cessful) to the national product, while the former has no direct connection. Moreover, domestic and/or foreign investment have a self-adjusting character which is lacking in the case of the public debt, because they respond to rates of return.

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Book 1991e accumulation of capital, increase in labor supply, and technological progress is the framework in which all of these variables move. This codetermines the allocation of factors between domestic and international production, and the development of foreign trade. The growth both of the public debt a

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0075-8442 codetermines the allocation of factors between domestic and international production, and the development of foreign trade. The growth both of the public debt a978-3-540-54074-8978-3-642-95659-1Series ISSN 0075-8442 Series E-ISSN 2196-9957

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Introduction,ion, stability, capital accumulation, business and household behavior, adjustment of financial markets, and the implications of these for stabilization policy. In comparison with another book bearing a related title, Dombusch (1980), the emphasis is not on balance-of-payments adjustment, although th

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Risk Averse, Time Optimizing Behavior Of Households: Comparison With German Microcensus Data,n the next those of enterprises. . In the case of microeconomics, be it of the partial-equilibrium or of the general-equilibrium sort, much of what is interesting can be said without explicit reference to time (an exception being the time path from disequilibrium back to equilibrium). But in dealing