Title: Capital-Market Imperfections and the Macroeconomic Dynamics of Small Indebted Economies
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.
Publication Year: 1997
Publication Date: 1997-06-01
Language: en
Type: book
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Cited By Count: 36
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