Arnim, Rudiger von; Prabheesh, K.P. - In: International Review of Applied Economics 27 (2013) 4, pp. 531-556
This paper puts forth a Neo-Kaleckian open economy model of two countries in order to investigate adjustment of US--China external imbalances. First, a stylized fixed mark-up model is presented, and discussed based on graphical analysis. Second, we present estimates of bilateral income and price...