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Global Macroeconomic Management

In: International Macroeconomics

Author

Listed:
  • Graham Bird

    (University of Surrey)

Abstract

When we move away from looking at individual economies and their dealings with the rest of the world to examining the operation of the world economy as a whole, the BP schedule introduced in previous chapters loses its relevance. The world economy does not trade with, lend to, or borrow from other economies. In essence we are back within the confines of the closed economy model which is conventionally represented by the IS-LM framework.

Suggested Citation

  • Graham Bird, 1987. "Global Macroeconomic Management," Palgrave Macmillan Books, in: International Macroeconomics, chapter 8, pages 113-123, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-09829-0_8
    DOI: 10.1007/978-1-137-09829-0_8
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