In this paper we present a review of the literature of economic growth for open economies. Then, from this review, we build a model of economic growth which take into account the main features of the Peruvian economy such as small economy, openness in goods and financia1 markets, strong link...

In this paper we extend the Dornbusch´s model (1976), the overshooting of the exchange rate, in two directions. First, as it was modeled by Wilson (1979), we assume that agents have rational expectations, i.e. perfect foresight in a deterministic model. In this framework, we analyze the effects...

This paper describes the evolution of macroeconomic theory in both closed and open economies. In the first section we present the evolution of the theory of a closed economy‚economies that do not have international trade; nor do it have links to the international financial markets. Since Keynes,...

In this paper we present a review of the literature of economic growth for open economies. Then, from this review, we build a model of economic growth which take into account the main features of the Peruvian economy such as small economy, openness in goods and financial markets, strong link...