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http://hdl.handle.net/10908/17061
Título : | The composition effect of the current account in small open economies |
Autor/a: | Aquino, Juan Carlos |
Mentor/a: | Kawamura, Enrique |
Fecha de publicación : | 2019 |
Editor: | Universidad de San Andrés. Departamento de Economía |
Resumen : | A common problem in international finance consists of the indeterminacy of the equilibrium asset portfolio in small open economy models. This paper develops a simple approach to compute this portfolio under the assumption of incomplete nancial markets. The procedure involves the limiting allocation of a class of two-country world economies where the relative size of one of them tends to zero. Such approach allows to identify the e ect of portfolio decisions on the dynamics of the net foreign asset position of a small open economy in a structural fashion. As an illustration, an approximated closed-form solution is obtained for a highly stylized model that is isomorphic to the class of Dynamic Stochastic General Equilibrium (DSGE) models typically used in the literature. |
Descripción : | Fil: Aquino, Juan Carlos. Universidad de San Andrés. Departamento de Economía; Argentina. |
URI : | http://hdl.handle.net/10908/17061 |
Aparece en las colecciones: | Tesis de Maestría en Economía |
Ficheros en este ítem:
Fichero | Tamaño | Formato | |
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[P][W] M. Eco. Aquino, Juan Carlos.pdf | 2.38 MB | Adobe PDF | Visualizar/Abrir |
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