The Simple Expenditure Model with Trade: How Should We Model Imports?
AbstractImports are modeled as a fixed proportion of spending rather than as a function of total or disposable income. With this formulation, the import component of spending shifts must be netted out in order to predict the initial autonomous change in domestic spending. In addition, the formulation should provide a clearer understanding than current formulations of how leakages influence the multiplier process.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal The Journal of Economic Education.
Volume (Year): 32 (2001)
Issue (Month): 1 (January)
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