The Risky Steady-State

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 both stochastic income and stochastic interest rate.

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Year of publication:	2012-01
Authors:	Coeurdacier, Nicolas ; Rey, Hélène ; Winant, Pablo
Institutions:	C.E.P.R. Discussion Papers
Subject:	steady state

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Extent:	application/pdf
Series:	CEPR Discussion Papers.
Type of publication:	Book / Working Paper
Notes:	Number 8751
Classification:	E10 - General Aggregative Models. General ; F41 - Open Economy Macroeconomics
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011084129