The Role of Stock Markets in Current Account Dynamics : A Time-Series Approach /

This paper develops a simple model to study the impact of stock markets on the current account. A closed-form solution for the current account is derived from the optimal portfolio and consumption/saving choices of a representative agent. Formally, the model can be seen as a stock market-augmented v...

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Xehetasun bibliografikoak
Egile nagusia: Mercereau, Benoit
Formatua: Aldizkaria
Hizkuntza:English
Argitaratua: Washington, D.C. : International Monetary Fund, 2004.
Saila:IMF Working Papers; Working Paper ; No. 2004/050
Sarrera elektronikoa:Full text available on IMF