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Business Cycle Dynamics in a Small Open Economy

✍ Scribed by Zuzana Janko


Book ID
106569033
Publisher
Springer US
Year
2009
Tongue
English
Weight
52 KB
Volume
37
Category
Article
ISSN
0197-4254

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One hallmark of small-open economy models with a time-separable preference assumption is the non-uniqueness of their steady states. Following King et al. (J. Monetary Econ. 21 (1988) 195-232), most studies compute a log-linear approximation solution to their small-open economies around the sample me