If these two forms of capital are assumed to generate different rates of return, this would amplify the closed economy
For instance, the investment rate in the open economy in 2007 is twice that in the closed economy
Therefore, in a closed economy
, in the medium term, the economy would return to the initial output level.
The real exchange rate effect has already been addressed by both Zee (1987) and Lin (1994) by extending Diamond's (1965) one-good, closed economy
OLG model with internal public debt to include two countries and two goods.
One group of researcher examines the relationship of money demand to a closed economy
and another to an open economy framework.
24, 1980 decisions that dealt the fatal blow to the single party administration's favorite closed economy
And as a closed economy
, if the North finally ran balanced trade, all trade surplus for the South would have gone as well.
The government is also said to be considering allowing foreign banks into the country's largely closed economy
While South Korea enjoys a free economy that encourages investment and growth among its citizens, North Korea operates in a closed economy
where education is limited to the regime's propaganda.
In Chapter 3, "Fichte's reappraisal of Kant's theory of cosmopolitan right," James demonstrates how Fichte's eventual proposal for a planned and closed economy
deviates from Kant's cosmopolitanism.
The state operated a closed economy
, and there were many restrictions against foreigners in the market," he said.