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Devaluation and investment in an optimizing model of the small open economy

  • Buffie, Edward F.
  • Won, Yongkul
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    Article provided by Elsevier in its journal European Economic Review.

    Volume (Year): 45 (2001)
    Issue (Month): 8 (August)
    Pages: 1461-1499

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    Handle: RePEc:eee:eecrev:v:45:y:2001:i:8:p:1461-1499
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    1. Andrew B. Abel & Olivier J. Blanchard, 1983. "The Present Value of Profits and Cyclical Movements in Investment," NBER Working Papers 1122, National Bureau of Economic Research, Inc.
    2. Robert E. Hall, 1981. "Intertemporal Substitution in Consumption," NBER Working Papers 0720, National Bureau of Economic Research, Inc.
    3. Hansen, Lars Peter & Singleton, Kenneth J, 1983. "Stochastic Consumption, Risk Aversion, and the Temporal Behavior of Asset Returns," Journal of Political Economy, University of Chicago Press, vol. 91(2), pages 249-65, April.
    4. Buffie, Edward F., 1986. "Devaluation, investment and growth in LDCs," Journal of Development Economics, Elsevier, vol. 20(2), pages 361-379, March.
    5. Reinhart, Carmen M. & Vegh, Carlos A., 1995. "Nominal interest rates, consumption booms, and lack of credibility: A quantitative examination," Journal of Development Economics, Elsevier, vol. 46(2), pages 357-378, April.
    6. Portes, Alejandro & Blitzer, Silvia & Curtis, John, 1986. "The urban informal sector in Uruguay: Its internal structure, characteristics, and effects," World Development, Elsevier, vol. 14(6), pages 727-741, June.
    7. Joshua Greene & Delano Villanueva, 1991. "Private Investment in Developing Countries: An Empirical Analysis," IMF Staff Papers, Palgrave Macmillan, vol. 38(1), pages 33-58, March.
    8. Reinhart, Carmen & Ostry, Jonathan, 1992. "Saving and Terms of Trade Shocks: Evidence from Developing Countries," MPRA Paper 6976, University Library of Munich, Germany.
    9. Fields, Gary S. & Wan, Henry Jr., 1989. "Wage-setting institutions and economic growth," World Development, Elsevier, vol. 17(9), pages 1471-1483, September.
    10. Engle, Robert F & Foley, Duncan K, 1975. "An Asset Price Model of Aggregate Investment," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 16(3), pages 625-47, October.
    11. Devaragan, Shantayanan & Lewis, Jeffrey D. & Robinson, Sherman, 1990. "Policy lessons from trade-focused, two-sector models," Journal of Policy Modeling, Elsevier, vol. 12(4), pages 625-657.
    12. Devarajan, Shantayanan, 1988. "Natural resources and taxation in computable general equilibrium models of developing countries," Journal of Policy Modeling, Elsevier, vol. 10(4), pages 505-528.
    13. Alan P. Kirman, 1992. "Whom or What Does the Representative Individual Represent?," Journal of Economic Perspectives, American Economic Association, vol. 6(2), pages 117-136, Spring.
    14. Pierre-Richard Agénor, 1995. "The Labor Market and Economic Adjustment," IMF Working Papers 95/125, International Monetary Fund.
    15. Malkiel, Burton G & von Furstenberg, George M & Watson, Harry S, 1979. "Expectations, Tobin's q, and Industry Investment," Journal of Finance, American Finance Association, vol. 34(2), pages 549-61, May.
    16. Jonathan David Ostry & Carmen Reinhart, 1991. "Private Saving and Terms of Trade Shocks; Evidence From Developing Countries," IMF Working Papers 91/100, International Monetary Fund.
    17. Svejnar, Jans, 1989. "Models of modern-sector labor market institutions in developing countries," World Development, Elsevier, vol. 17(9), pages 1409-1415, September.
    18. Gindling, T H, 1991. "Labor Market Segmentation and the Determination of Wages in the Public, Private-Formal, and Informal Sectors in San Jose, Costa Rica," Economic Development and Cultural Change, University of Chicago Press, vol. 39(3), pages 584-605, April.
    19. Mazumdar, Dipak, 1993. "Labor Markets and Adjustment in Open Asian Economies: The Republic of Korea and Malaysia," World Bank Economic Review, World Bank Group, vol. 7(3), pages 349-80, September.
    20. Morrison, Andrew R., 1994. "Are institutions or economic rents responsible for interindustry wage differentials?," World Development, Elsevier, vol. 22(3), pages 355-368, March.
    21. Bourguignon, Francois & de Melo, Jaime & Suwa, Akiko, 1991. "Distributional Effects of Adjustment Policies: Simulations for Archetype Economies in Africa and Latin America," World Bank Economic Review, World Bank Group, vol. 5(2), pages 339-66, May.
    22. Serven, Luis & Solimano, Andres, 1992. "Private Investment and Macroeconomic Adjustment: A Survey," World Bank Research Observer, World Bank Group, vol. 7(1), pages 95-114, January.
    23. Lawrence H. Summers, 1981. "Taxation and Corporate Investment: A q-Theory Approach," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 12(1), pages 67-140.
    24. J. Saul Lizondo & Peter J. Montiel, 1989. "Contractionary Devaluation in Developing Countries: An Analytical Overview," IMF Staff Papers, Palgrave Macmillan, vol. 36(1), pages 182-227, March.
    25. Hayashi, Fumio, 1982. "Tobin's Marginal q and Average q: A Neoclassical Interpretation," Econometrica, Econometric Society, vol. 50(1), pages 213-24, January.
    26. George W. Stadler, 1994. "Real Business Cycles," Journal of Economic Literature, American Economic Association, vol. 32(4), pages 1750-1783, December.
    27. Nicola Rossi, 1988. "Government Spending, the Real Interest Rate, and the Behavior of Liquidity-Constrained Consumers in Developing Countries," IMF Staff Papers, Palgrave Macmillan, vol. 35(1), pages 104-140, March.
    28. Giovannini, Alberto, 1985. "Saving and the real interest rate in LDCs," Journal of Development Economics, Elsevier, vol. 18(2-3), pages 197-217, August.
    29. de Melo, Jaime, 1988. "Computable general equilibrium models for trade policy analysis in developing countries: A survey," Journal of Policy Modeling, Elsevier, vol. 10(4), pages 469-503.
    30. Riccardo Faini & Jaime De Melo & Abdelhak Senhadji & Julie Stanton, 2015. "Growth-Oriented Adjustment Programs: A Statistical Analysis," World Scientific Book Chapters, in: Developing Countries in the World Economy, chapter 5, pages 125-135 World Scientific Publishing Co. Pte. Ltd..
    31. Bleaney, Michael & Greenaway, David, 1993. "Adjustment to external imbalance and investment slumps in developing countries," European Economic Review, Elsevier, vol. 37(2-3), pages 577-585, April.
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