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International asset market, nonconvergence, and endogenous fluctuations
Kikuchi, Tomoo - 2006
We develop an overlapping generations model with retradeable paper assets and capital accumulation to analyze the interaction between the real economy and an international asset market. The world consists of two homogeneous countries, which differ only in their initial levels of capital. Two...
Persistent link: https://www.econbiz.de/10009452520
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Inequality of nations and endogenous fluctuations in a two country model
Kikuchi, Tomoo - 2006
The aim of this paper is to investigate the spillover effects through an endogenous world interest rate on the inequality of nations. The model of K. Matsuyama (Econometrica 72 (2004)) is explored under the alternative assumption that the world economy consists of two countries, instead of a...
Persistent link: https://www.econbiz.de/10009452521
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Spatial discrimination, nations' size and transportation costs
Andree, Kai - 2010
In this paper we develop a spatial Cournot trade model with two unequally sized countries, using the geographical interpretation of the Hotelling line. We analyze the trade and welfare effects of international trade between these two countries. The welfare analysis indicates that in this...
Persistent link: https://www.econbiz.de/10009449011
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Uncertain Duration of Reform: Dynamic Implications
Calvo, Guillermo A.; Drazen, Allan - 1998
We develop a framework to study the effects of policies of uncertain duration onconsumption dynamics under both complete and incomplete markets. We focus on the dynamicimplications of market incompleteness, specifically on the lack of state-contingent bonds. Twopolicies are considered: pure...
Persistent link: https://www.econbiz.de/10009450564
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Essays on macroeconomic theory as a guide to economic policy
Ried, Stefan - 2009
Die vorliegende Dissertation zu makroökonomischen Themen beinhaltet einen einleitenden Literaturüberblick, drei eigenständige und voneinander unabhängige Kapitel sowie einen technischen Anhang. In Kapitel zwei wird ein Zwei-Länder Modell einer Währungsunion betrachtet, in dem die...
Persistent link: https://www.econbiz.de/10009467184
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Neoklassische Wachstumstheorie : Darstellung, Kritik und Erweiterung
Christiaans, Thomas - 2004
sich auf den Ansatz der dynamischen Optimierung in Erklärungsmodellen einerseits und auf die Skaleneffekte in der Theorie … Ausrichtung auf die Theorie des semi-endogenen Wachstums und der ausführlichen Erörterung der erforderlichen mathematischen …
Persistent link: https://www.econbiz.de/10009459138
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The New Economy and the Dollar Puzzle: the Case of Australia
Karunaratne, Neil Dias - 2002
The revolutionary changes in information technology (IT), globalisation and financial innovation have overturned the Solow productivity paradox and spawned a New Economy (NE) in Australia in the late 1990s. Both growth accounting estimates and the use of the information superhighway ranks...
Persistent link: https://www.econbiz.de/10009447976
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Aggregate Information and the Role of Monetary Policy in an Open Economy
Kimbrough, K. P. - 1984
A model of a small open economy in which agents trade in local goods markets and an economy-wide asset market is developed. Purchasing-power parity is assumed to hold at the aggregate level. However, because of local deviations from purchasing-power parity, agents possess differential...
Persistent link: https://www.econbiz.de/10009475597
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Dynamic multivariate analysis of a small open economy: The case of Hawai'i
Zhou, Ting - 2003
-tourism. Recent research in the literature on identified cointegrating VARs emphasizes the need to rely on economic theory to impose … tourism model is developed, exploiting Hall, Henry, and Greenslade's (2002) theory-directed sequential reduction methodology … highly restricted VAR, or BVAR, or a model of pseudo theory driven equations. In contrast, my third essay makes use of BVAR …
Persistent link: https://www.econbiz.de/10009451227
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Is the Genuine Progress Indicator really genuine? Considering well-being impacts of exports and imports
Clarke, Matthew - 2007
The Genuine Progress Indicator (GPI) is estimated as if nations operate within a closed economy. Therefore, in terms of coverage, the GPI is most analogous to Gross Domestic Product (GDP). Indeed, within the relevant literature, these two indicators are most often contrasted. However,...
Persistent link: https://www.econbiz.de/10009483739