scholarly journals Sustainable Debt Policy Rules and Growth in a Small Open Economy Model: Is a Balanced Government Budget Worthwhile?

2020 ◽  
Vol 62 (3) ◽  
pp. 373-397
Author(s):  
Fabienne Lara Dascher
Keyword(s):  
Open Economy ◽  
Small Open Economy ◽  
Government Budget ◽  
Policy Rules ◽  
Economy Model ◽  
Debt Policy

scholarly journals Evaluating an estimated new Keynesian small open economy model

2008 ◽  
Vol 32 (8) ◽  
pp. 2690-2721 ◽  
Author(s):  
Malin Adolfson ◽  
Stefan Laséen ◽  
Jesper Lindé ◽  
Mattias Villani
Keyword(s):  
Open Economy ◽  
Small Open Economy ◽  
New Keynesian ◽  
Economy Model

scholarly journals Status Preference, Wealth and Dynamics in the Open Economy

2004 ◽  
Vol 5 (3) ◽  
pp. 335-355 ◽  
Author(s):  
Walter H. Fisher
Keyword(s):  
Open Economy ◽  
Capital Mobility ◽  
Critical Role ◽  
Government Expenditure ◽  
Small Open Economy ◽  
Current Account Balance ◽  
Financial Assets ◽  
Transitional Dynamics ◽  
Economy Model ◽  
Interest Rate Shocks

Abstract The implications of status preference in a simple open economy model are investigated in this paper. The open economy is modeled as a continuum of identical representative agents who have preferences over consumption and status. In the paper status is identified as relative wealth, which takes the form of relative holdings international financial assets. A symmetric macroeconomic equilibrium is derived in which status is the source of transitional dynamics for domestic consumption and the current account balance. This result illustrates another way to combine transitional dynamics with interior equilibria in the small open economy Ramsey model with perfect capital mobility. We also show that status preference plays a critical role in influencing the open economy’s adjustment to government expenditure and world interest rate shocks.

scholarly journals On the bifurcation of a torus in a small open economy model

2011 ◽  
Vol 48 (1) ◽  
pp. 125-134
Author(s):  
Katarína Makovínyiová ◽  
Rudolf Zimka
Keyword(s):  
Interest Rate ◽  
Exchange Rates ◽  
Open Economy ◽  
Invariant Torus ◽  
Small Open Economy ◽  
Sufficient Conditions ◽  
National Income ◽  
Macroeconomic Model ◽  
Money Stock ◽  
Economy Model

Abstract A four-dimensional macroeconomic model of a small open economy under fixed exchange rates is investigated. The model describes the development of national income, capital stock, interest rate and money stock. Sufficient conditions for the existence of an invariant torus are given. A numerical example illustrating the gained results is presented.

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