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A Multi-Level Choice Theory [PDF]

open access: yes
The Great Recession has called into question many tenets of Neo-classical Microeconomics. Neo-classical theory allows each agent only one fixed type, homo economicus, while not denying other possible types as in adverse selection.
Raul V. Fabella
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External Adjustments and Coordinated Exchange Rate Policy in Asia [PDF]

open access: yes
In this paper, we estimate structural VAR models with contemporaneous restrictions based on neo-classical and Keynesian theories to investigate whether the cause of current account surpluses for East Asian economies is a gsaving gluth or undervalued ...
Eiji Ogawa, Kentaro Iwatsubo
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