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Aghion, Philippe; Banerjee, Abhijit V.; Piketty, Thomas - 1997

Persistent link: https://www.econbiz.de/10000977926

Financial Development and the Instability of Open Economies

Aghion, Philippe - 2004

This paper introduces a framework for analyzing the role of financial factors as a source of instability in small open economies. Our basic model is a dynamic open economy model with a tradeable good produced with capital and a country-specific factor. We also assume that firms face credit...

Persistent link: https://www.econbiz.de/10012468447

Financial Development and the Instability of Open Economies

Aghion, Philippe; Banerjee, Abhijit V.; Bacchetta, Philippe - 2021

Persistent link: https://www.econbiz.de/10013221113

Exchange rate volatility and productivity growth : the role of financial development

Aghion, Philippe; Bacchetta, Philippe; Rancière, Romain; … - 2006

This paper offers empirical evidence that real exchange rate volatility can have a signi.cant impact on the long … with relatively low levels of financial development, exchange rate volatility generally reduces growth, whereas for … rate volatility, and outliers. We also offer a simple monetary growth model in which real exchange rate uncertainty …

Persistent link: https://www.econbiz.de/10011397245