haku: @author Turnovsky, S. / yhteensä: 4
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| Tekijä: | Turnovsky, S. Sen, P. |
| Otsikko: | Investment in a two-sector dependent economy |
| Lehti: | Journal of the Japanese and International Economies
1995 : MAR, VOL. 9:1, p. 29-55 |
| Asiasana: | INVESTMENT ECONOMICS INTERNATIONAL |
| Kieli: | eng |
| Tiivistelmä: | This paper analyzes a two-sector small open economy with traded and nontraded goods and accumulating capital. When capital is nontraded the behavior of the real exchange rate is shown to depend on the relative sectoral capital intensities. If the traded sector is relatively capital intensive, then any permanent disturbance leads to at most an initial jump in the real exchange rate. While the capital stock adjusts, no further change in the real exchange rate occurs. |
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