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...
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At first glance, the reader may think that there is little connection between the empirical study of Bordo, Humpage, and Schwartz of the effect of foreign exchange market interventions by the Federal Reserve during 1973–1995 and the Glocker and Towbin quantitative DSGE model of reserve requirements in a small open economy with financial frictions.1 However, there are key links. Each study exami...
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We examine the setting of national competition policy in a two-country setting, emphasizing the relationship of trade to the goals of competition policy (such as the degree and nature of competition). The issues we address involve the general equilibrium distributional effects of competition policy, the relationship of national competition policy to terms-of-trade gains and losses, the implicat...
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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....
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ژورنال
عنوان ژورنال: Review of World Economics
سال: 1978
ISSN: 1610-2878,1610-2886
DOI: 10.1007/bf02696534