Closing large open economy models
نویسندگان
چکیده
منابع مشابه
International Pricing in New Open-Economy Models
R ecent developments in open-economy macroeconomics have progressed under the paradigm of nominal price rigidities, where monetary disturbances are the main source of fluctuations. Following developments in closed-economy models, new open-economy models have combined price rigidities and market imperfections in a fully microfounded intertemporal general equilibrium setup. This framework has bee...
متن کاملNew directions for stochastic open economy models
The paper develops a simple stochastic new open economy macroeconomic model based on sticky nominal wages. Explicit solution of the wage-setting problem under uncertainty allows one to analyze the effects of the monetary regime on welfare, expected output, and the expected terms of trade. Despite the potential interplay between imperfections due to sticky wages and monopoly, the optimal monetar...
متن کاملC losing small open economy models
The small open economy model with incomplete asset markets features a steady-state that depends on initial conditions and equilibrium dynamics that possess a random walk component. A number of modifications to the standard model have been proposed to induce stationarity. This paper presents a quantitative comparison of these alternative approaches. Five different specifications are considered: ...
متن کاملClosing Open Medicine
Claire Kendall, MD, is Deputy Editor at Open Medicine; an Associate Professor with the Department of Family Medicine, University of Ottawa; Clinician Investigator at the C.T. Lamont Primary Health Care Research Centre, Élisabeth Bruyère Research Institute; and a practising family physician with the Riverside Campus Family Health Team, Ottawa, Ontario. James Maskalyk, MD, is an Associate Editor ...
متن کاملCountry Portfolios in Open Economy Macro Models - Dallas Fed
This paper develops a simple approximation method for computing equilibrium portfolios in dynamic general equilibrium open economy macro models. The method is widely applicable, simple to implement, and gives analytical solutions for equilibrium portfolio positions in any combination or types of asset. It can be used in models with any number of assets, whether markets are complete or incomplet...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of International Economics
سال: 2011
ISSN: 0022-1996
DOI: 10.1016/j.jinteco.2011.03.010