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  • 11
    Electronic Resource
    Electronic Resource
    The Dynamics of Temporary Policies in a Small Open Economy (2002)
    Oxford, UK and Boston, USA : Blackwell Publishers Ltd.
    Review of international economics 10 (2002), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The paper corrects a subtle, but crucial, conceptual flaw in a solution procedure initially proposed in 1990 by Sen and Turnovsky to analyze anticipated regime changes in small open economies based on the intertemporal optimization of rational forward–looking agents. The problem is its failure to consider the intertemporal solvency of the economy consistently. The paper focuses on temporary shocks, although the procedure also applies to announced future permanent policy changes. Since the issue is generic and relevant to a large class of policy changes, it is important for the intertemporal solvency aspect to be incorporated consistently. The authors show that the seriousness of the error in the previous solution procedure depends upon the specific shock, and two contrasting examples are discussed.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/1467-9396.00353
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  • 12
    Electronic Resource
    Electronic Resource
    The International Transmission of Tax Policies In A Dynamic World Economy (1992)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 1 (1992), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The international transmission of tax shocks are analyzed in a two-country infinite-horizon representative agent framework. the viability of the tax regimes, arising from the arbitrage conditions characterizing equilibrium in a perfect world capital market, is emphasized. Conditions for both short-run and long-run viability are derived, and the two polar regimes of source-based and residence-based taxation are discussed. In general, the former is found more likely to satisfy the viability conditions than the latter. With equity financing, the long-run viability of residence-based taxation is likely to require the harmonization of tax and/or dividend policy. the main features of the dynamic adjustment paths following a tax increase are characterized.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9396.1992.tb00006.x
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  • 13
    Electronic Resource
    Electronic Resource
    Financing Public Investment through Foreign Aid: Consequences for Economic Growth and Welfare (2005)
    Oxford, UK : Blackwell Publishing Ltd.
    Review of international economics 13 (2005), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The paper develops a theoretical framework for understanding the mechanism through which foreign aid affects macroeconomic performance. The authors find that the long-run impact of an aid program and the nature of the transitional dynamics it generates depend crucially on (i) the elasticity of substitution in production, (ii) whether the aid flow is tied to investment activity or not, (iii) how the recipient government chooses to react to the flow of external assistance, and (iv) whether the aid program is permanent or temporary. Structural characteristics of the recipient are important in determining the extent to which external assistance can aid growth and welfare.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9396.2005.00490.x
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  • 14
    Electronic Resource
    Electronic Resource
    The Dependent-Economy Model With Both Traded and Nontraded Capital Goods (1994)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 2 (1994), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Dynamic versions of the dependent-economy model have been criticized for arbitrarily assuming that capital is either tradable or nontradable, and for choosing either the traded or nontraded sector to be capital intensive. Our model incorporates both types of capital and shows that the relative sectoral intensity of nontraded capital determines the dynamic adjustment of the relative price of nontradables. When the traded sector is intensive in nontraded capital, the saddlepath is flat. When the nontraded sector is intensive in nontraded capital, the saddlepath is negatively sloped. the relative sectoral intensity of traded capital primarily affects current-account dynamics.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9396.1994.tb00046.x
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  • 15
    Electronic Resource
    Electronic Resource
    International Capital Markets and Non-Scale Growth (1999)
    Oxford, UK and Boston, USA : Blackwell Publishers Ltd.
    Review of international economics 7 (1999), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: New growth models exhibit “scale effects,” meaning that variations in the levels of key variables exert permanent influences on growth rates. Such predictions run counter to recent empirical evidence. This paper extends a general non-scale model to the open economy. With complete capital markets, only output and capital, but not consumption, retain their non-scale structure. Introducing capital market imperfections, the model is again fully non-scale. Debt subsidies are analyzed and shown to provide capital flow reversals consistent with the recent experience in East Asia.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/1467-9396.00155
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  • 16
    Electronic Resource
    Electronic Resource
    Endogenous Growth in a Dependent Economy with Traded and Nontraded Capital (1996)
    Oxford, UK : Blackwell Publishing Ltd
    Review of international economics 4 (1996), S. 0 
    Details
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The equilibrium growth path for this economy depends upon the relative sectoral capital intensities of the two production functions. If the nontruded sector is relatively intensive in traded capital, both the relative price of nontraded output and the price of installed capital always remain at their respective steady-state levels. Traded capital and aggregate wealth are always on their respective steady-state growth paths. Nontraded capital undergoes transitional dynamics, ultimately converging to the growth rate of traded capital and an equilibrium ratio of traded to nontraded capital. If the sectoral intensities are reversed, both asset prices will follow transitional adjustment paths.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9396.1996.tb00106.x
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  • 17
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    Rational Expectations and the Theory of Macroeconomic Policy: An Exposition of Some of the Issues (1984)
    Washington, D.C., etc. : Periodicals Archive Online (PAO)
    The Journal of economic education. 15:1 (1984:Winter) 55 
    Details
    ISSN: 0022-0485
    Topics: Economics
    Notes: Content Articles in Economics
    URL: http://gateway.proquest.com/openurl?url_ver=Z39.88-2004&res_dat=xri:pao:&rft_dat=xri:pao:article:p335-1984-015-01-000006
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  • 18
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    Growth, External Debt, and Sovereign Risk in a Small Open Economy (1990)
    Washington : Periodicals Archive Online (PAO)
    International Monetary Fund staff papers. 37:2 (1990:June) 388 
    Details
    ISSN: 0020-8027
    Topics: Economics
    URL: http://gateway.proquest.com/openurl?url_ver=Z39.88-2004&res_dat=xri:pao:&rft_dat=xri:pao:article:5171-1990-037-02-000007
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  • 19
    Electronic Resource
    Electronic Resource
    Convergence in a Two-Sector Nonscale Growth Model (1999)
    Springer
    Journal of economic growth 4 (1999), S. 413-428 
    Details
    ISSN: 1573-7020
    Keywords: nonscale growth ; convergence ; capital ; technology
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Much of the convergence debate has focused solely on output. Recent empirical evidence suggests that crucial inputs, such as technology and capital, may exhibit markedly distinct convergence patterns. We examine the convergence characteristics of a two-sector nonscale model of growth that features population growth and endogenous technology. The model replicates key economic ratios and speeds of convergence with relative ease. Most important, however, is that capital and technology differ strikingly in their convergence paths and speeds. The nonconstancy of the convergence rates and the nonproportionality of the endogenous variables during transition suggests further refinements for the empirical tests of convergence.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1009867409614
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