All Rights Reserved
AccessEcon LLC 2006, 2008.
Powered by MinhViet JSC
ralph lauren polo

 
Philippe Darreau and François Pigalle
 
''Long-run effects of capital market integration using OLG model''
( 2014, Vol. 34 No.3 )
 
 
Buiter (1981) illustrates that in the OLG model, the ranking of stationary utility levels under autarky and openness, is ambiguous. We show that both countries increase their stationary utility levels only if the autarky capital-labor ratios are on opposite sides of the golden rule.
 
 
Keywords: Capital market integration, open economy, Global Imbalances, OLG model.
JEL: F4 - Macroeconomic Aspects of International Trade and Finance: General
H6 - National Budget, Deficit, and Debt: General
 
Manuscript Received : Apr 09 2014 Manuscript Accepted : Aug 20 2014

  This abstract has been downloaded 587 times                The Full PDF of this paper has been downloaded 102322 times