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Inventories in the Open Economy Macro Model: A Disequilibrium Analysis

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  • Michael J. Moore

Abstract

This study examines a disequilibrium model of a small open economy with explicit links between periods due to inventory accumulation, as well as the more conventional channels through current account imbalances and the government budget constraint. The key features of the model are that agents have perfect foresight with neutral public debt and that inventories adjust to smooth production intertemporarily. The paper explores the extent to which fiscal policy can be used selectively for coping with an export slump without running into a balance of payments constraint.

Suggested Citation

  • Michael J. Moore, 1989. "Inventories in the Open Economy Macro Model: A Disequilibrium Analysis," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 56(1), pages 157-162.
    • Handle: RePEc:oup:restud:v:56:y:1989:i:1:p:157-162.
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    File URL: http://hdl.handle.net/10.2307/2297757
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    Cited by:

    1. Anjum Aqeel & Mohammed Nishat, 2000. "The Twin Deficits Phenomenon: Evidence from Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 39(4), pages 535-550.

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