An Empirical Marco-model of an Open Economy under Fixed Exchange Rates: The United Kingdom, 1954-1970.

By their very nature, the analytic models that we use to teach macroeconomics to our students, and to organize our thinking about policy issues, are highly simplified. There is nothing wrong with leaving out of a model factors that are present in the real-world, provided that what is left out is, gi...

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Bibliographic Details

Published in:	Economica Vol. 47; no. 186; pp. 141 - 159
Main Authors:	Laidler, David, O'Shea, Patrick
Format:	Article
Published:	Wiley-Blackwell May80
Subjects:	Macroeconomics Economic models Income Money supply Foreign exchange rates Economic policy
Online Access:	View this record in EBSCOhost