The Serendipity Theorem for an Endogenous Open Economy Growth Model
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 کاملEndogenous Labor Market Insitutions in an Open Economy
The paper sets up a two-country asymmetric trade model with heterogeneous firms, search frictions and endogenous labor market institutions. Countries are linked by trade in goods and non-cooperatively set unemployment benefits to maximize national welfare. We show that more open and smaller economies have more generous unemployment benefit replacement rates as a larger fraction of the costs is ...
متن کاملComposition of Government Spending, Optimal Fiscal Policy, and Endogenous Growth in the Economy of Iran
This paper investigates the optimal fiscal policy, pertaining to government spending, considering different productivity of public services in production function and its impact on the optimal tax rate, the optimal rate of government spending, and optimal economic growth rate. Using the VECM model for Iranian economy over 48 years, results show while the current expenditure has a positive and s...
متن کاملThe Study of the role of the banking industry in an open economy via Dynamic Stochastic General Equilibrium model
In this paper we use a separate production function( Cobb-Douglas) for banking industry and investigate the effect of banking sector’s performance on macroeconomic variable , like production ,interest rate spread , loan and deposit interest rate, investment, consume, employment and….. . like a lot of developing countries , who don’t have enough resources for investment, in this model we suppose...
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 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: Theoretical Economics Letters
سال: 2018
ISSN: 2162-2078,2162-2086
DOI: 10.4236/tel.2018.84049