In this article, we develop an analytical general equilibrium model of the equilibrium exchange rate. This theoretical framework allows us to identify the relevant set of variables which determinate the equilibrium exchange rate and to explore how theses variables influence the trajectory of the...

In this paper we first give an elementary proof of existence of equilibrium with dividends in an economy with possibly satiated consumers. We then introduce a no-arbitrage condition and show that it is equivalent to the existence of equilibrium with dividends

In this article, we develop an analytical general equilibrium model of the equilibrium exchange rate for emerging countries. This theoretical framework allows us to identify a relevant set of variables which determinate the equilibrium exchange rate and to explore how these variables influence...

In this article, we develop an analytical general equilibrium model of the equilibrium exchange rate. This theoretical framework allows us to identify the relevant set of variables which determinate the equilibrium exchange rate and to explore how theses variables influence the trajectory of the...

In this article, we develop an analytical general equilibrium model of the equilibrium exchange rate. This theoretical framework allows us to identify the relevant set of variables which determinate the equilibrium exchange rate and to explore how theses variables influence the trajectory of the...

We consider a developing country with three sectors in economy: consumption goods, new technology, and education. Productivity of the consumption goods sector depends on new technology and skilled labor used for production of the new technology. We show that there might be three stages of...

We consider a developing country with three sectors in economy: consumption goods, new technology, and education. Productivity of the consumption goods sector depends on new technology and skilled labor used for production of the new technology. We show that there might be three stages of...

In a developing country with three sectors: consumption goods, new tech- nology, and education, the productivity of the consumption goods depends on a new technology and skilled labor used to produce this new technology. There can be three stages of economic growth. In the …rst stage the...