In the presence of an inflationary shock, does the central bank raise interest rates more in a closed or in an open econ

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answerhappygod
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In the presence of an inflationary shock, does the central bank raise interest rates more in a closed or in an open econ

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In the presence of an inflationary shock, does the central bank
raise interest rates more in a closed or in an open economy?
Explain using the 3-equation model in open economy.
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