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This paper considers the effects of fiscal and financial policy on economic growth in open and closed economies, when human capital formation by young households is constrained by the illiquidity of human wealth. Both endogenous and exogenous growth versions of the basic OLG model are analyzed....
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This paper considers the effects of fiscal and financial policy on economic growth in open and closed economies, when human capital formation by young households is constrained by the illiquidity of human wealth. Both endogenous and exogenous growth versions of the basic OLG model are analyzed....
Persistent link: https://www.econbiz.de/10013221520
country risk, the paper discusses a number of modifications in the standard theory of efficient international financial … markets that are necessitated by the existence of country risk., For macroeconomic policy, the major implications are that …
Persistent link: https://www.econbiz.de/10012478620
country risk, the paper discusses a number of modifications in the standard theory of efficient international financial … markets that are necessitated by the existence of country risk., For macroeconomic policy, the major implications are that …
Persistent link: https://www.econbiz.de/10013225837
Persistent link: https://www.econbiz.de/10000136682