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Capital-Market Imperfections and the Macroeconomic Dynamics of Small Indebted Economies

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Author Info
Agenor, P.-R.

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Abstract

The present study departs from the conventional approach to world capital-market imperfections by relying on the notion of individual risk, rather than country risk. This difference of emphasis has important implications for the specification of intertemporal optimizing models of small indebted economies. In particular, deviations from uncovered interest parity emerge naturally in the present approach.

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Publisher Info
Paper provided by International Economics Section, Departement of Economics Princeton University, in its series Princeton Studies in International Economics with number 82.

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Length: 64 pages
Date of creation: 1997
Date of revision:
Handle: RePEc:fth:prinfi:82

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Postal: International Finance Section, Department of Economics Princeton University, Princeton, New Jersey, U.S.A
Phone: (609) 258-4000
Fax: (609) 258-6419
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Web page: http://www.econ.princeton.edu/
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Related research
Keywords: EXTERNAL FINANCING ; DEBT ; MACROECONOMICS ; FINANCIAL MARKET;

Find related papers by JEL classification:
F34 - International Economics - - International Finance - - - International Lending and Debt Problems
F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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  1. Agenor, Pierre-Richard & Lodovico, Pizzati, 2000. "Disinflation and the supply side," Policy Research Working Paper Series 2304, The World Bank. [Downloadable!]
    Other versions:
  2. Hung-ju Chen; Hsiao-tang Hsu, 2004. "The Role of Firm Size in Controlling Output Volatility during the Asian Financial Crisis," Econometric Society 2004 North American Summer Meetings 11, Econometric Society. [Downloadable!]
  3. Agenor, Pierre-Richard & McDermott, C John & Prasad, Eswar S, 2000. "Macroeconomic Fluctuations in Developing Countries: Some Stylized Facts," World Bank Economic Review, Oxford University Press, vol. 14(2), pages 251-85, May. [Downloadable!]
    Other versions:
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This page was last updated on 2009-12-16.


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