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y describe the structure of the benchmark monetary open economy model....com- posite index of domestic and imported foreign varieties. The home
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Insulating Policies for Large and Small Countries
la capable of ellmlnat.ing the transnission of either real or monetary...Y t = Y n r + o ( P t - P ; ' - ' ) + e t d ( 2 ) M r = k + P 6 + a Y
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