Titlebook: International Economic Growth; Michael Carlberg Book 1997 Springer-Verlag Berlin Heidelberg 1997 Au?enwirtschaft.International Economic Gr

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Conclusion,ven exogennously. And under perfect capital mobility, the domestic interest rate agrees with the foreign interest rate. Take for instance a Solow model featuring the dynamics of foreign assets. The income of domestic residents is composed of factor income and the interest inflow. Domestic residents

Adjourn

978-3-7908-0995-4Springer-Verlag Berlin Heidelberg 1997

Harness

Integrate

有限

Delectable

elastic

Fixed Wage Rate,As a point of reference take a closed economy. Let us begin with a Solow model. At first assume a flexible wage rate. The model can be characterized by a system of four equations:

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Coterminous

Two Countries,horough analysis of two countries inhabited by overlapping generations. Therefore we shall confine ourselves to a rather short presentation. Along the same lines as in the preceding chapter, the model consists of nine equations:

先鋒派

Imperfect Capital Mobility,atios, for that matter). This result, however, seems not to be consistent with empirical evidence. Feldstein and Horioka (1980) demonstrated that investment rates are highly correlated with saving rates. In the United States, for instance, foreign debt is nearly 10% of GDP. And in Germany, foreign assets reached a maximum of about 20% of GDP.