GTAP Resources: Resource Display
| GTAP Resource #399 |
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"A Disequilibrium Model of International Capital Mobility" by Ianchovichina, Elena, Robert McDougall and Thomas Hertel Abstract Paper presented at the Second Annual Conference on Global Economics Analysis, Denmark, June 20-22. The paper proposes a new disequilibrium approach to modeling international capital mobility for a dynamic multi- region general equilibrium model. Key to this approach are errors in investors’ assessments of potential returns to capital, such as those recently observed in Asia. The investment theory, compatible with a simple recursive solution procedure, ensures the convergence of the model towards a stable equilibrium, brings realism into the analysis of international capital mobility and flexibility in tailoring to empirical data. The paper discusses two numerical examples, demonstrating the long- run convergence of the model and the dynamic adjustment to a deeper, longer crisis in Asia. |
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- Dynamic modeling |
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Public Access  GTAP Working Paper No. 10 (183.6 KB) Replicated: 0 time(s)Restricted Access No documents have been attached. Special Instructions |
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Last Modified: 9/15/2023 2:05:45 PM
