The Role of Private Financial Wealth in a Portfolio Model
A Study of the Effects of Fiscal Deficits on the Real Exchange Rate
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Beschreibung
This book considers the implications for the dynamics of the exchange rate and private financial wealth. In a model in which fiscal imbalances are allowed to change the level of domestic public indebtedness. The analysis raises the possibility of an initial appreciation followed by a depreciation and a final exchange rate appreciation. It also highlights the importance that adjustments in the stock of privately-held financial assets have for the determination and speed of medium-run effects of shocks to the economy.
Autor*in
A. Calderon-Madrid
Themen in »The Role of Private Financial Wealth in a Portfolio Model«
dynamics economy equilibrium exchange rates fiscal policy Portfolio Portfolio Model