Compare the decision making process taken by the central bank (and forex market in the open economy)
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Compare the decision making process taken by the central bank (and forex market in the open economy) in a closed and open economy after a permanent positive supply shock. Create a table similar to Table 9.2. How does the real interest rate in the new medium-run equilibrium compare in the two cases?
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Related Book For 
Macroeconomics Institutions Instability And The Financial System
ISBN: 9780199655793
1st Edition
Authors: Wendy Carlin, David Soskice
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