English   español  
Por favor, use este identificador para citar o enlazar a este item: http://hdl.handle.net/10261/1833
Compartir / Impacto:
Estadísticas
Add this article to your Mendeley library MendeleyBASE
Ver citas en Google académico
Visualizar otros formatos: MARC | Dublin Core | RDF | ORE | MODS | METS | DIDL
Exportar otros formatos: Exportar EndNote (RIS)Exportar bibText (RIS)Exportar csv (RIS)
Título

Current Account Imbalances, Thriftiness And The Real Exchange Rate In A Growing Economy

Autor Marín Martínez, Carmen
Palabras clave Balassa-Samuelson hypothesis
Foreign debt
Growth
Macroeconomic approach
Per capita income
Real exchange rate
Fecha de publicación jul-2003
Serie UFAE and IAE Working Papers
589.03
ResumenThis paper analyses the theoretical relevance of the dynamical aspects of growth on the discussion about the observed positive correlation between per capita real income and real exchange rates. With this purpose, we develop a simple exogenous growth model where the internal, external and intertemporal equilibrium conditions of a typical macroeconomic model are imposed; this last one through the inclusion of a balanced growth path for the foreign assets accumulation. The main result under this consideration is that the relationship defended by the Balassa-Samuelson hypothesis is no more so straightforward. In our particular approach, the mentioned bilateral relationship depends on a parameter measuring thriftiness in the economy. Therefore, the probability of ending up with a positive relationship between growth and real exchange rates -as the classical economic theory predicts- will be higher when the economy is able to maintain a minimum saving ratio. Moreover, given that our model considers a simple Keynesian consumption function, some explosive paths can also be possible.
URI http://hdl.handle.net/10261/1833
Aparece en las colecciones: (IAE) Informes y documentos de trabajo
Ficheros en este ítem:
Fichero Descripción Tamaño Formato  
58903.pdf328,58 kBAdobe PDFVista previa
Visualizar/Abrir
Mostrar el registro completo
 


NOTA: Los ítems de Digital.CSIC están protegidos por copyright, con todos los derechos reservados, a menos que se indique lo contrario.