Scelte ottimali di risparmio/investimento, ester¬nalità di produzione e partite correnti - Optimal saving/investment decisions, production externalities and the current account

Giorgio Galeazzi (galeazzi@unimc.it)
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Giorgio Galeazzi: Dip.to di studi sullo sviluppo economico, Università di Macerata, Postal: Piaggia della Torre, 8 – 62100 Macerata (MC), Italy, http://www.unimc.it/

Economia Internazionale / International Economics, 1992, vol. 45, issue 3-4, 296-317

Abstract: Optimal saving/investment decisions, production externalities and the current account This paper considers the interaction of saving and investment in determining the current account for a small peen economy subjected to externalities. By emphasizing the intertemporal aspects of decisions to save and invest the attention is focused on the current account as a mechanism by which a country can transfer consumption opportunities across time. The main difference with previous literature is the consideration of a domestic distortion, which creates a divergence between the marginal rate of intertemporal substitution in consumption and the domestic marginal rate of transformation. The effects far the current account crucially depend on the relative level of international rate of interest.

Date: 1992
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Persistent link: https://EconPapers.repec.org/RePEc:ris:ecoint:0451

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