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On the contrary, Italy's initial downstream position together with a relatively more stable domestic market for final demand C&T-goods proved favorable in this respect.
If turmoil in America's financial markets affects final demand, that would hit Japan harder than many other countries.
"In light of somewhat different signals received recently from the labour market than from indicators of final demand and production... it will be especially important evaluate incoming information to assess the underlying pace of the economic recovery," he said.
"In light of the somewhat different signals received recently from the labor market than from indicators of final demand and production, however," Mr. Bernanke said, "it will be especially important to evaluate incoming information to assess the underlying pace of economic recovery".
With labor markets very tight and domestic final demand retaining considerable momentum, the risks of a pickup in inflation remain significant.
"Continued improvement in the job market is likely to require stronger growth in final demand and production," Bernanke said in his prepared remarks.
The closure determines the endogenous variables in the market clearance conditions, and they affect the results of shocks in final demand.
In this paper we have considered a two-echelon supply chain where the final demand depends upon both the retail price and the marketing expenses borne by the partners.
With respect to C&T-labor directly embodied in final demand C&T-outflows it was, however, again Italy, which was less open to the international market.
The final demand?
It used to be said that although emerging markets were contributing an expanding share of world growth, they could not claim to be the real engine for the global economy because final demand for their exports lay in America.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com