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stocks of foreign liabilities on top of sluggish productivity growth. Ultimately, if investment and savings are not … open economies, showing that investment and savings can correlate even without frictions to capital mobility when … liabilities, therefore raising the cost of financing investment with foreign funds, this leads investment and savings to correlate …
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This paper proposes estimating causalities in bilateral international trade in simultaneous systems, including domestic and foreign GDP as well as mutual trade flows. Conventional macroeconomic theory mainly follows partial approaches like import functions or exportled growth. Focusing on the US...
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