Concept information
Preferred term
open economy macroeconomics
Definition
- Much of the influential research in macroeconomics in the post-Great Depression era has focused on domestic economic fluctuations. For a large country such as the United States, the assumption that foreign interest rates had little effect on domestic economic variables was accepted. [Source: Encyclopedia of Business in Today's World; Open Economy Macroeconomics]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/open_economy_macroeconomics
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