Capital Liberalization and Imperfect Substitutability between Bonds and Stocks: Reexamination of the Mundell-Fleming Model
This paper analyzes the effects of macroeconomic policies and foreign shocks on the stability of a small open economy, in which equity investment is more crucial than debt investment. The key assumption of our model is that stocks and bonds are imperfect substitutes. Accordingly, financial market eq...
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| Principais autores: | , |
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| Formato: | Artigo |
| Idioma: | Inglês |
| Publicado em: |
Korea Institute for International Economic Policy
2002-06-01
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| coleção: | East Asian Economic Review |
| Assuntos: | |
| Acesso em linha: | http://dx.doi.org/10.11644/KIEP.JEAI.2002.6.1.88 |
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