Stationarity-Inducing Techniques in Small Open Economy Models with Collateral Constraints
نویسندگان
چکیده
منابع مشابه
C losing small open economy models
The small open economy model with incomplete asset markets features a steady-state that depends on initial conditions and equilibrium dynamics that possess a random walk component. A number of modifications to the standard model have been proposed to induce stationarity. This paper presents a quantitative comparison of these alternative approaches. Five different specifications are considered: ...
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We would like to thank Philip Lowe, Lars Svensson and David Gruen for helpful suggestions. We are extremely grateful to Luci Ellis for training us in the use of Mathematica 3.0. Any remaining errors are ours. The views expressed are those of the authors and should not be attributed to the Reserve Bank of Australia.
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ژورنال
عنوان ژورنال: Open Economies Review
سال: 2020
ISSN: 0923-7992,1573-708X
DOI: 10.1007/s11079-020-09607-1