A Dynamic Equilibrium Model of Real Exchange Rates with General Transaction Costs
نویسندگان
چکیده
منابع مشابه
A Dynamic Equilibrium Model of Real Exchange Rates with General Transaction Costs ∗
We study the behavior of real exchange rates in a two-country dynamic equilibrium model. In this model, consumers can only consume domestic goods but can invest costlessly in capital stocks of both countries. Nevertheless, transporting goods between the two countries is costly and, hence, the rebalancing of the capital stock can only happen finitely often. We propose a realistic cost structure ...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2002
ISSN: 1556-5068
DOI: 10.2139/ssrn.301291