Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/50630 
Kompletter Metadatensatz
DublinCore-FeldWertSprache
dc.contributor.authorChristopoulos, Dimitris K.en
dc.contributor.authorGente, Karineen
dc.contributor.authorLeón-Ledesma, Miguel A.en
dc.date.accessioned2010-12-28-
dc.date.accessioned2011-10-21T16:53:30Z-
dc.date.available2011-10-21T16:53:30Z-
dc.date.issued2010-
dc.identifier.urihttp://hdl.handle.net/10419/50630-
dc.description.abstractEmpirical evidence suggests that real exchange rates (RER) behave differently in developed and developing countries. We develop an overlapping generations two-sector exogenous growth model in which RER determination may depend on the country's capacity to borrow from international capital markets. The country faces a constraint on capital in ows. With high domestic savings, the RER only depends on productivity spread between sectors (Balassa-Samuelson effect). If the constraint is too tight and/or domestic savings too low, the RER depends on both net foreign assets (transfer effect) and productivity. We then analyze the empirical implications of the model and find that, in accordance with the theory, the RER is mainly driven by productivity and net foreign assets in constrained countries and by productivity in unconstrained countries.en
dc.language.isoengen
dc.publisher|aUniversity of Kent, School of Economics |cCanterburyen
dc.relation.ispartofseries|aSchool of Economics Discussion Papers |x10,11en
dc.subject.jelE39en
dc.subject.jelF32en
dc.subject.jelF41en
dc.subject.ddc330en
dc.subject.keywordreal exchange rateen
dc.subject.keywordcapital in ows constrainten
dc.subject.keywordoverlapping generationsen
dc.titleNet foreign assets, productivity and real exchange rates in constrained economies-
dc.typeWorking Paperen
dc.identifier.ppn642532974en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

Datei(en):
Datei
Größe
635.88 kB





Publikationen in EconStor sind urheberrechtlich geschützt.