This paper models an economy in which it is costly to move resources between the tradeable and nontradeable sectors. The economy is subject to capital flows that are unpredictable and are perceived as having only limited persistence. The model shows that both the fact that capital flows are...

This paper models an economy in which it is costly to move resources between the tradeable and nontradeable sectors. The economy is subject to capital flows that are unpredictable and are perceived as having only limited persistence. The model shows that both the fact that capital flows are...

Die didaktische Revolution in der wirtschaftswissenschaftlichen Ausbildung. Mit ihrem erzählerischen Ansatz, der klaren Sprache und den lebensnahen Beispielen gelingt den renommierten Autoren eine unterhaltsame, spannende und äußerst praxisorientierte Einführung in die Volkswirtschaftslehre....