Imports in Keynesian Models

Josef Bonnici

The Economic Record, 1987, vol. 63, issue 4, 352-354

Abstract: This paper examines two main problems relating to the introduction of imports in the simple Keynesian model. First, imports need to be made a function of the aggregate demand components rather than income. Second, unless one assumes that intermediate imports are zero the solution of the simple Keynesian model will provide miltipliers which Overstate the exogenous demand change for domestic product.

Date: 1987
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https://doi.org/10.1111/j.1475-4932.1987.tb00668.x

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