Question: Explain how the BPCG model can be modified for the cases of (a) partial exchange rate pass through and (b) incorporating Verdoorn productivity effects. What

Explain how the BPCG model can be modified for the cases of

(a) partial exchange rate pass through and

(b) incorporating Verdoorn productivity effects. What assumption(s) of a stand ard BPCG model has (have) to be suspended for these factors to matter to the BP-equilibrium growth rate?

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