The risky steady state
Helene Rey () and
Sciences Po publications from Sciences Po
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.
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Working Paper: The Risky Steady-State (2012)
Journal Article: The Risky Steady State (2011)
Working Paper: The risky steady state (2011)
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