I have two questions.
First, why do you choose small open economy for modeling? It might be a dumb question -- how do you define "small"?
My second question is, why do you choose two extreme economy instead of analyzing the U.S. economy with different trials of freedom of capital flows?
I have two questions. First, why do you choose small open economy for modeling? It might be a dumb question -- how do you define "small"? My second question is, why do you choose two extreme economy instead of analyzing the U.S. economy with different trials of freedom of capital flows?