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The model presented in this article is an adaptation of the IS-LM model for an open economy in which both the static aspects and dynamic ones are approached. The determination of marginal main indicators of GDP and interest rates, allow to identify problems and the directions of action to...
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The idea that certain economic variables are roughly constant in the long-run is an old one. Kaldor described them as stylized facts, whereas Klein and Kosobud labelled them great ratios. While such ratios are widely adopted in theoretical models in economics as conditions for balanced growth,...
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, Poland, Romania and Hungary). To achieve this performance, it embraced an economic growth model based on consumption rather …From 2014-2018 Romania recorded the fastest growth rate among the CESE-6 countries (Bulgaria, Croatia, Czech Republic … than investment. The government's strategy was to cut indirect taxes, increase public wages and old-age pensions but this …
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