Economists use relational or reputational concerns to explain the implicit enforcement of contracts. Both mechanisms require special assumptions concerning contracting parties' identities; in particular, these assumptions would not hold in one-period settings in which outcomes cannot affect...

This thesis is a collection of two essays on open economy macroeconomics. The first essay is on imperfect asset substitutability and current account dynamics. It is divided into four chapters. The first chapter in this essay is a preface for the chapters to follow. The second chapter lays out a...