Government Debt, Agent Heterogeneity and Wealth Displacement in a Small Open Economy
نویسندگان
چکیده
منابع مشابه
Debt Targeting in a Small Open Economy
This paper considers a small open economy where government pursues debt targeting policy. In this setting, I find the optimal debt targeting rule crucially hinges on the assumption of bond market structure, i.e. whether household can purchase state-contingent bond. In addition, the country’s foreign asset holding and government’s debt level may have substantial impact on the optimal debt target...
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 کاملGovernment Spending Effects in a Small Open Economy∗
In this paper, the government consumption spending effects in a small open economy(SOE), are explored. In a standard active monetary/passive fiscal policy(AM/PF) regime, openness reduces the effectiveness of the government spending on output through the terms of trade decrease. Consumption decreases less than in the closed economy, but this effect is so weak that the output does not rise more t...
متن کاملcapital accumulation and convergence in a small open economy
â â â â â â â abstract â 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 o...
متن کاملOil Price Shocks and Economic Fluctuations in Iran as a Small Open Oil Exporting Economy
Oil price shocks are the major source of economic instability in oil exporting developing countries, including Iran. In this paper a Multi Sector Dynamic Stochastic General Equilibrium model, with emphasis on optimization of oil sector as a producing sector is designed. Furthermore, an optimizing import sector is introduced into the model by considering the price rigidity in imported goods as a...
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: SSRN Electronic Journal
سال: 2002
ISSN: 1556-5068
DOI: 10.2139/ssrn.338980