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Toward a Better Understanding of Macroeconomic Interdependence

Alexander Chudik

Annual Report, Globalization and Monetary Policy Institute, 2014, 16-21

Abstract: The concept of a representative foreign economy has no proper justification in the literature, and the consequences of aggregating the rest of the world into one representative economy are not fully understood.

Date: 2014
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Handle: RePEc:fip:feddgm:00025