The composition effect of the current account in small open economies

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dc.contributor.MentorKawamura, Enrique
dc.creator.AutorAquino, Juan Carlos
dc.date.accessioned2020-03-09T17:51:38Z
dc.date.available2020-03-09T17:51:38Z
dc.date.issued2019?
dc.descriptionFil: Aquino, Juan Carlos. Universidad de San Andrés. Departamento de Economía; Argentina.
dc.description.abstractA 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.
dc.formatapplication/pdf
dc.identifier.urihttp://hdl.handle.net/10908/17061
dc.languageeng
dc.publisherUniversidad de San Andrés. Departamento de Economía
dc.rightsinfo:eu-repo/semantics/openAccess
dc.rightshttps://creativecommons.org/licenses/by-nc-nd/4.0/
dc.titleThe composition effect of the current account in small open economies
dc.typeTesis
dc.typeinfo:eu-repo/semantics/masterThesis
dc.typeinfo:ar-repo/semantics/tesis de maestría
dc.typeinfo:eu-repo/semantics/updatedVersion
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