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...
| Tác giả chính: | |
|---|---|
| Định dạng: | Tạp chí |
| Ngôn ngữ: | English |
| Được phát hành: |
Washington, D.C. :
International Monetary Fund,
2004.
|
| Loạt: | IMF Working Papers; Working Paper ;
No. 2004/031 |
| Truy cập trực tuyến: | Full text available on IMF |