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Financial Factors in the Business Cycle of a Small Open Economy: The Case of Korea

✍ Scribed by Junhee Lee, Wooheon Rhee


Book ID
120755202
Publisher
Springer US
Year
2013
Tongue
English
Weight
603 KB
Volume
24
Category
Article
ISSN
0923-7992

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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