International Lending and Borrowing in a Stochastic Sequence Equilibrium

Richard Clarida

No 771, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: The objective of this paper is to study international lending and borrowing in general equilibrium framework in which countries are subject to stochastic productivity fluctuations. The role of time preference, borrowing limits, and lump sum taxation are rigorously analyzed, yielding results which enrich those obtained in the existing literature.

Keywords: International lending and borrowing; stochastic productivity fluctuations (search for similar items in EconPapers)
Pages: 32 pages
Date: 1985-05
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Related works:
Working Paper: International Lending and Borrowing in a Stochastic Sequence Equilibrium (1986)
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Persistent link: https://EconPapers.repec.org/RePEc:cwl:cwldpp:771

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