Digitale Medien
Oxford, UK and Boston, USA
:
Blackwell Publishers Ltd.
Review of international economics
8 (2000), S. 0
ISSN:
1467-9396
Quelle:
Blackwell Publishing Journal Backfiles 1879-2005
Thema:
Wirtschaftswissenschaften
Notizen:
Macroeconomic performance in many developing countries is influenced by international credit conditions. This paper considers a developing economy that faces an upward-sloping supply function of debt. It analyzes how a particular foreign shock, a world interest shock, influences such key macroeconomic variables as output, investment, the current account, and the terms of trade in both short-run and steady-state equilibrium. An intertemporal optimizing model is used to study these issues. This approach permits characterization of the intertemporal adjustment of the indebted economy, and shows that a world interest shock lowers overall economic welfare.
Materialart:
Digitale Medien
URL:
http://dx.doi.org/10.1111/1467-9396.00220
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