iii leaves, iv-viii, 28 pages : illustrations ; 30 cm
Abstract
In this paper, the method introduced by Devereux, M. B. and Sutherland, A. is
applied to solve the portfolio problem in a two goods and two countries open
small economy model. The difference between the open economy model in this
paper and those in existing papers is the households’ utility discount factor is
endogenous. The numeric solution is analyzed and the impulse response
functions are listed at last.
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