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Transition economy convergence in a two-country model: implications for monetary integration
Bruha, Jan; Podpiera, Jirí - 2007
In this paper we present a two-country dynamic general equilibrium model of ex ante unequally developed countries. The model explains a key feature recently observed in transition economies – the long-run trend real exchange rate appreciation – through investments into quality. Our...
Persistent link: https://www.econbiz.de/10011604786
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Inquiries on dynamics of transition economy convergence in a two-country model
Bruha, Jan; Podpiera, Jirí - 2007
particular emphasis on the impact of productivity convergence and effects of timing of trade and financial liberalization on the … convergence patterns. We compare the mechanisms behind the three investment margins (horizontal investment to new varieties …
Persistent link: https://www.econbiz.de/10011604837
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Transition economy convergence in a two-country model: implications for monetary integration
Bruha, Jan; Podpiera, Jirí - European Central Bank - 2007
In this paper we present a two-country dynamic general equilibrium model of ex ante unequally developed countries. The model explains a key feature recently observed in transition economies – the long-run trend real exchange rate appreciation – through investments into quality. Our...
Persistent link: https://www.econbiz.de/10005344863
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Inquiries on dynamics of transition economy convergence in a two-country model
Bruha, Jan; Podpiera, Jirí - European Central Bank - 2007
particular emphasis on the impact of productivity convergence and effects of timing of trade and financial liberalization on the … convergence patterns. We compare the mechanisms behind the three investment margins (horizontal investment to new varieties …
Persistent link: https://www.econbiz.de/10005816263