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This paper presents a small simulation model that can be used to estimate the medium-run effects of exchange rate changes on the trade balance of a primary producing country. The model is applied to four copper producing countries, Chile, Peru, Zaire, and Zambia. The model can estimate the...
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Since the five largest industrial democracies concluded the Plaza Agreement in 1985, the theory and practice of international economic policy coordination has become the subject of spirited academic and public-policy debate. While some view policy coordination as crucial for the construction of...
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