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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
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
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
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
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
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
In this study, we first review the bifurcation phenomena in dynamic economic systems and point out the importance of bifurcations together with a summary of the common types of bifurcations which have been encountered in economic research. Although bifurcation analysis is a relatively new...
Persistent link: https://www.econbiz.de/10009430886
Description This half semester class presents an introduction to macroeconomic modeling, focusing on the theory of economic growth …
Persistent link: https://www.econbiz.de/10009432111
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
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