| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w3651 |
| 来源ID | Working Paper 3651 |
| Stochastic Equilibrium and Exchange Rate Determination in a Small Open Economy with Risk Averse Optimizing Agents | |
| Earl L. Grinols; Stephen J. Turnovsky | |
| 发表日期 | 1991-03-01 |
| 出版年 | 1991 |
| 语种 | 英语 |
| 摘要 | This paper constructs a stochastic general equilibrium model of a small open economy consisting of risk averse optimizing agents. The stochastic processes describing the rate of monetary growth, government expenditure, private production, and the foreign price level are taken to be exogenous, determining all asset risks and returns, and the equilibrium stochastic processes describing the domestic inflation rate and the exchange rate. The model is used to examine a number of issues. These include: (i) the effects of the means and variances of policy shocks on the equilibrium; (ii) the determinants of the foreign exchange risk premium; (iii) the relationship between net export instability and economic growth. |
| 主题 | International Economics |
| URL | https://www.nber.org/papers/w3651 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/560958 |
| 推荐引用方式 GB/T 7714 | Earl L. Grinols,Stephen J. Turnovsky. Stochastic Equilibrium and Exchange Rate Determination in a Small Open Economy with Risk Averse Optimizing Agents. 1991. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w3651.pdf（540KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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