Saving And Investment In An Open Economy With Non Traded Goods
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Saving and Investment in an Open Economy with Non-Traded Goods
Author | : Charles M. Engel |
Publisher | : |
Total Pages | : 26 |
Release | : 2007 |
Genre | : |
ISBN | : |
We examine a model of a small open economy in which there is free international mobility of financial capital, investment in capital goods and a non-traded good. Such an environment is rich enough to explain several phenomena that are inexplicable in more barren models. We suggest an explanation of why saving and investment may be correlated even with no restrictions on trade in assets. We explain why a high saving country may nonetheless borrow from abroad to finance investment. We also provide an optimizing model of stages in the balance of payments.
Equilibrium in a Non-Interest Open Economy
Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 36 |
Release | : 1988-12-22 |
Genre | : Business & Economics |
ISBN | : 1451944985 |
This paper analyzes an economy in which there are no interest-bearing assets, only equity shares. Equilibrium conditions are derived for the case of a closed economy, an open economy with trade in goods only, and finally one with trade in both goods and equity shares. It is shown that the rate of return to capital equilibrates savings and investment, that the differential between the domestic and foreign rates of return to equity determines the direction of capital flows, and that under a fixed exchange rate system, adjustments induced by exchange rate changes are channeled through the asset accounts.
Equilibrium in a Non-Interest Open Economy
Author | : Abbas Mirakhor |
Publisher | : |
Total Pages | : 21 |
Release | : 2017 |
Genre | : |
ISBN | : |
This paper analyzes an economy in which there are no interest-bearing assets, only equity shares. Equilibrium conditions are derived for the case of a closed economy, an open economy with trade in goods only, and finally one with trade in both goods and equity shares. It is shown that the rate of return to capital equilibrates savings and investment, that the differential between the domestic and foreign rates of return to equity determines the direction of capital flows, and that under a fixed exchange rate system, adjustments induced by exchange rate changes are channeled through the asset accounts.
Fiscal Policy and the Current Account
Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 32 |
Release | : 2010-05-01 |
Genre | : Business & Economics |
ISBN | : 1455200808 |
This paper examines the relationship between fiscal policy and the current account, drawing on a larger country sample than in previous studies and using panel regressions, vector autoregressions, and an analysis of large fiscal and external adjustments. On average, a strengthening in the fiscal balance by 1 percentage point of GDP is associated with a current account improvement of 0.2–0.3 percentage point of GDP. This association is as strong in emerging and low-income countries as it is in advanced economies; and significantly higher when output is above potential.
Essays in Macroeconomics of an Open Economy
Author | : Franz Gehrels |
Publisher | : Springer Science & Business Media |
Total Pages | : 194 |
Release | : 2012-12-06 |
Genre | : Business & Economics |
ISBN | : 3642956599 |
The large aggregates in the economy - consumption, investment, production of the domestic and the international sectors, international capital flows, financial accumulation and indebtedness - are analysed in this book as problems in time-optimisation for enterprises and households. The effects of fiscal and monetary policies along with exchange-rate variation are examined, and their simultaneous use for stabilizing demand are found to be necessary. All household decisions on consumptions, savings, and financial disposition are conditioned by uncertainty, and similarly for firms, who make more complex simultaneous decisions on production, real investment, financing, and market strategy. The marginal efficiency-of-investment function derived from these decisions is fundamentally different from the marginal productivity of capital in the neoclassical sense. An economy which grows through the accumulation of capital, increase in labor supply, and technological progress is the framework in which all of these variables move. This codetermines the allocation of factors between domestic and international production, and the development of foreign trade. The growth both of the public debt and of international investment are treated in depth.
Cost-Benefit Analysis for Investment Decisions
Author | : Chun-Yan Kuo |
Publisher | : |
Total Pages | : 599 |
Release | : 2019-01-22 |
Genre | : |
ISBN | : 9781790667505 |
This is textbook for university students and a manual for professionals. It gives an in-depth treatment of the theory and application of Cost-Benefit Analysis, using an integrated approach where the financial, economic, stakeholder and risk analyses are carried out in a single integrated project model. Fully developed case examples are presented for both public and public private partnership investment expenditures.