Natural, Effective and BOP-Constrained Rates of Growth: Adjustment Mechanisms and Closure Equations
The interaction between the effective (yE) and the natural rates of growth (yN) is a central part—implicitly or explicitly addressed—in all growth models. A stable equilibrium requires these two rates to converge; otherwise, one or more key macroeconomic variables would be rising or falling without...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Associazione Economia civile
2018-07-01
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| Series: | PSL Quarterly Review |
| Subjects: | |
| Online Access: | https://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/14011/pdf |