McGrattan, Ellen R. - Federal Reserve Bank of Minneapolis - 2009
national product (GNP) are low during periods of abnormally high FDI investment. … investment and employment. Furthermore, since intangible investments are expensed, both gross domestic product (GDP) and gross …
(GDP) and gross national product (GNP) should decline during periods of abnormally high FDI
investment. Using the model of …