The Role of Stock Markets in Current Account Dynamics : a Time-Series Approach

a Time-Series Approach

The Role of Stock Markets in Current Account Dynamics : a Time-Series Approach
This paper develops a simple model to study the impact of stock markets on the current account. A closed-form solution for the current account is derived from the optimal portfolio and consumption/saving choices of a representative agent. Formally, the model can be seen as a stock market-augmented version of the "fundamental equation of the... READ MORE...

Publication date: March 2004
ISBN 9781451847000
$15.00

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