Coenen, Günter; Lombardo, Giovanni; Smets, Frank; … - 2008
cooperation are very sensitive to the degree of openness. For example, if the share of
export and import of the two regions would … differentiated output H
f,t
in the domestic markets or to foreign
importers (the demand of which is denoted by X
f,t+k
) under … foreign (X
t
) demand for home-produced goods and subject to an elastic demand for
its product defined as
Y
f …