Long-run effects of capital market integration using OLG model

Philippe Darreau () and François Pigalle ()
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Philippe Darreau: University of Limoges
François Pigalle: University of Limoges

Economics Bulletin, 2014, vol. 34, issue 3, 1835-1845

Abstract: Buiter (1981) illustrates that in the OLG model, the ranking of stationary utility levels under autarky and openness, is ambiguous. We show that both countries increase their stationary utility levels only if the autarky capital-labor ratios are on opposite sides of the golden rule.

Keywords: Capital market integration; open economy; Global Imbalances; OLG model. (search for similar items in EconPapers)
JEL-codes: F4 H6 (search for similar items in EconPapers)
Date: 2014-08-20
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Citations: View citations in EconPapers (2)

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