Imperfect Capital Mobility in an Open Economy Model of Capital Accumulation /
This paper introduces a tractable capital market friction mechanism that allows a break of the parity between domestic and external interest rates and generates a gradual evolution of capital stock and other macroeconomic variables-in contrast to the instantaneous convergence found in models with in...
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| Materialtyp: | Tidskrift |
| Språk: | English |
| Publicerad: |
Washington, D.C. :
International Monetary Fund,
2004.
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| Serie: | IMF Working Papers; Working Paper ;
No. 2004/031 |
| Länkar: | Full text available on IMF |