COUNTRY PORTFOLIOS IN OPEN ECONOMY MACRO-MODELS
نویسندگان
چکیده
منابع مشابه
Country Portfolios in Open Economy Macro Models - Dallas Fed
This paper develops a simple approximation method for computing equilibrium portfolios in dynamic general equilibrium open economy macro models. The method is widely applicable, simple to implement, and gives analytical solutions for equilibrium portfolio positions in any combination or types of asset. It can be used in models with any number of assets, whether markets are complete or incomplet...
متن کاملSolving for Country Portfolios in Open Economy Macro Models; Michael B. Devereux and Alan Sutherland; IMF Working Paper 07/284; December 1, 2007
This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate. Open economy macroeconomics typically abstracts from portfoli...
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R ecent developments in open-economy macroeconomics have progressed under the paradigm of nominal price rigidities, where monetary disturbances are the main source of fluctuations. Following developments in closed-economy models, new open-economy models have combined price rigidities and market imperfections in a fully microfounded intertemporal general equilibrium setup. This framework has bee...
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The paper develops a simple stochastic new open economy macroeconomic model based on sticky nominal wages. Explicit solution of the wage-setting problem under uncertainty allows one to analyze the effects of the monetary regime on welfare, expected output, and the expected terms of trade. Despite the potential interplay between imperfections due to sticky wages and monopoly, the optimal monetar...
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ژورنال
عنوان ژورنال: Journal of the European Economic Association
سال: 2011
ISSN: 1542-4766
DOI: 10.1111/j.1542-4774.2010.01010.x