全球智库信息集成服务系统(G2TT): Trends and Cycles in Small Open Economies: Making The Case For A General Equilibrium Approach

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w22460
来源ID	Working Paper 22460
	Trends and Cycles in Small Open Economies: Making The Case For A General Equilibrium Approach
	Kan Chen; Mario Crucini
发表日期	2016-08-01
出版年	2016
语种	英语
摘要	Economic research into the causes of business cycles in small open economies is almost always undertaken using a partial equilibrium model. This approach is characterized by two key assumptions. The first is that the world interest rate is unaffected by economic developments in the small open economy, an exogeneity assumption. The second assumption is that this exogenous interest rate combined with domestic productivity is sufficient to describe equilibrium choices. We demonstrate the failure of the second assumption by contrasting general and partial equilibrium approaches to the study of a cross-section of small open economies. In doing so, we provide a method for modeling small open economies in general equilibrium that is no more technically demanding than the small open economy approach while preserving much of the value of the general equilibrium approach.
主题	Econometrics ; Estimation Methods ; Microeconomics ; Mathematical Tools ; International Economics ; International Macroeconomics
URL	https://www.nber.org/papers/w22460
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/580134
推荐引用方式 GB/T 7714	Kan Chen,Mario Crucini. Trends and Cycles in Small Open Economies: Making The Case For A General Equilibrium Approach. 2016.

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
w22460.pdf（711KB）	智库出版物		限制开放	CC BY-NC-SA	浏览