Coping with a Paradoxical Theorem in Macroeconomics,Report on a Survey

Abstract

This paper reports on the varied and inconsistent responses of a group of economists to a survey seeking resolution of a puzzle in open economy macroeconomics. The paper suggests that the puzzle is unresolved and is the source of many anomalies which quite undermine macroeconomics.

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References

Economic Report of the President, United States Government Printing Office, Washington, D.C., 1993.

Samuelson

Paul A.

and Nordhaus

William D.

Economics, Thirteenth Edition, McGraw Hill: New York and elsewhere, 1989.

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