five

Adjustment in the World Economy

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NBER1987-10-01 更新2025-01-04 收录
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https://www.nber.org/papers/w2424
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There is a widespread view that world payments imbalances can be remedied through increased demand in surplus countries and reduced demand in deficit countries, without any need for real exchange rate changes. In fact shifts in demand and real exchange rate adjustment are necessary couplets, not
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1987-10-01
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