Macroeconomics

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Why? - There is no single, simple, incontestable or totally certain explanations only theories, evidence and surmise - Here is the prevailing wisdom in Anglo-Saxon countries… 7 The “supply-side revolution”: - After WW2, macroeconomic management fell in to several broad categories: ✓ Centrally planned economies with full state ownership of means of production and distribution and state direction (for example: Russia, Eastern Europe, China…) ✓ Mixed economies

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little further still, there are some overlaps with other concepts which are much closer of International Commercial Law. 3. Some overlapping with other concepts a. International Economics Law This subject covers applicable laws to macroeconomics relations. So, it is much closer to the notion of International Commercial Law; but, International Economic Law only concerns private operators. On the contrary, International Commercial Law concerns both private operators and public operators

Department of Economics. Earlier versions of this paper, entitled 'A Test of the Intertemporal Asset Pricing ModeF, were presented at the University of Minnesota, University of Lausanne, Harvard University, NBER Conference on Intertemporal Puzzles in Macroeconomics, and the American Finance Meetings. We wish to thank the workshop participants, George Coustantinides, Eugene Fama, Merton Miller, and particularly an anonymous referee, Fischer Black, Stephen LeRoy and Charles Plosser for helpful discussions