Productivity and Preferences in a Small Open Economy
Jagjit Chadha (),
Norbert Janssen and
Charles Nolan ()
Manchester School, 2001, vol. 69, issue 0, 57-80
Following Hall (1997) it is increasingly common to incorporate preference, as well as productivity, perturbations in calibrated general equilibrium models. We assess the performance of a small open economy stochastic growth model (based on the Blanchard-Yaari framework) under alternative driving processes. Whilst both models provide familiar descriptions of the aggregate economy, we find that the model driven by productivity disturbances has clear advantages in explaining the behaviour towards foreign asset accumulation. Copyright 2001 by Blackwell Publishers Ltd and The Victoria University of Manchester
References: Add references at CitEc
Citations View citations in EconPapers (12) Track citations by RSS feed
Downloads: (external link)
http://www.blackwell-synergy.com/servlet/useragent ... &year=2001&part=null link to full text (text/html)
Access to full text is restricted to subscribers.
Working Paper: Productivity and Preferences in a Small Open Economy (2001)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: http://EconPapers.repec.org/RePEc:bla:manchs:v:69:y:2001:i:0:p:57-80
Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=1463-6786
Access Statistics for this article
Manchester School is currently edited by Keith Blackburn
More articles in Manchester School from University of Manchester Contact information at EDIRC.
Series data maintained by Wiley-Blackwell Digital Licensing ().