Marchesi, Silvia; Sabani, Laura; Dreher, Axel - 2009
only should multilateral institutions
advise on what would be good in an ideal world, but they should also offer second …)+γY
RW
(s) (2)
where Y and Y
RW
measure the borrowing country and the Rest of the World output,
respectively. They both … a dialogue
to take place (Rajan, 2008).
12
Here the policies in the rest of the world are taken as given, namely we do …