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Coeurdacier, Nicolas,
Hélène Rey, and
Pablo Winant. 2011. "The Risky Steady State."
,
101(3): 398-401.
Show Article Details
DOI: 10.1257/aer.101.3.398
Abstract: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.
Authors:
Coeurdacier, Nicolas (Sciences Po, Paris)
Rey, Hélène (London Business School)
Winant, Pablo (Paris School of Economics)
JEL Classifications:
E10: General Aggregative Models: General
F41: Open Economy Macroeconomics
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