The Risky Steady State

Nicolas Coeurdacier, Helene Rey and Pablo Winant

American Economic Review, 2011, vol. 101, issue 3, 398-401

Abstract: We propose a simple quantitative method to linearize around the risky steady state of a small open economy. Unlike when the deterministic steady state is used, the net foreign asset position is well defined. We allow for stochastic income and stochastic interest rate.

Date: 2011
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Related works:
Working Paper: The Risky Steady-State (2012)
Working Paper: The risky steady state (2011)
Working Paper: The risky steady state (2011)
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