An Endogenous Growth Model of a Financially Repressed Small Open Economy
نویسندگان
چکیده
منابع مشابه
Money Growth Rules in an Emerging Small Open Economy with an informal sector
This paper is concerned with the saddle-path stability of monetary growth rules in a two-country two-sector dynamic stochastic general equilibrium model. Alongside standard features of emerging economies, such as a combination of producer and local currency pricing for exports, fiscal dominance and oil exports, this model also incorporates informal labour and production sectors and examines how...
متن کاملIndeterminacy in a Small Open Economy Ramsey Growth Model
This paper presents a small open economy version of the J. Benhabib and R. E. A. Farmer (1996, J. Monet. Econ. 37, 421 443) two sector optimal growth model with production externalities. It is shown that indeterminacy is considerably easier to obtain under a regime of perfect world capital markets than in the closed economy variant. Furthermore, the result is not dependent on a high labor suppl...
متن کاملIntergenerational redistribution in a small open economy with endogenous fertility.
The literature comparing fully funded (FF) and pay-as-you-go (PAYG) financed public pension systems in small, open economies stresses the importance of the Aaron condition as an empirical measure to decide which system can be expected to lead to a higher long-run welfare. A country with a PAYG system has a higher level of utility than a country with a FF system if the growth rate of total wage...
متن کاملTrade Liberalization and Endogenous Growth in a Small Open Economy: A Quantitative Assessment
This paper develops a numerical endogenous growth model approximating an infinite horizon which allows us to investigate the relationship between trade liberalization and economic growth. Although economic theory generally implies that trade liberalization will enhance economic growth, and these phenomena are positively correlated in empirical tests, the connection is not well substantiated in ...
متن کاملCapital Accumulation and Convergence in a Small Open Economy
Outward-oriented economies seem to grow faster than inward-looking ones. Does the literature on convergence have anything to say on this? In the dynamic Heckscher-Ohlin-Samuelson model, with factor-price equalization, there is no convergence of incomes. This is because with identical preferences and return to capital, irrespective of initial levels the growth rates of consumption are the same....
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: International Economic Journal
سال: 2009
ISSN: 1016-8737,1743-517X
DOI: 10.1080/10168730802696772