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Von Arnim, Rudiger Lennart | Rebalancing through expenditure and price changes | This paper puts forth a Neo-Kaleckian open economy model of two countries in order to investigate adjustment of US-China external imbalances. First, a stylized fixed mark-up model is presented, and discussed based on graphical analysis. Second, we present estimates of bilateral income and price elas... | 2012-12-01 |
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