Indeterminacy in Open Economies

Kazuo Mino

Chapter Chapter 6 in Growth and Business Cycles with Equilibrium Indeterminacy, 2017, pp 159-205 from Springer

Abstract: Abstract In the previous chapters, we restrict our attention to closed-economy models. This chapter examines equilibrium indeterminacy in open economies. The central concern of this chapter is to explore how international transactions affect the dynamic behaviors of macroeconomies. In particular, we focus on the difference in the indeterminacy conditions between open economies and their closed economy counterparts. We first discuss small open economies and then explore the world economy consisting of two large countries.

Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advchp:978-4-431-55609-1_6

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DOI: 10.1007/978-4-431-55609-1_6

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