Economic booms, trade deficits and economic policy
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- dc.contributor.author Alcalá, Franciscoca
- dc.contributor.author Peñarrubia, Diegoca
- dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
- dc.date.accessioned 2017-07-26T10:51:08Z
- dc.date.available 2017-07-26T10:51:08Z
- dc.date.issued 2000-07-01
- dc.date.modified 2017-07-23T02:04:39Z
- dc.description.abstract Many economic booms have been accompanied by real exchange rate appreciations, large trade defcits -which have sometimes persisted after the return to the initial exchange rate parity- and a deteriorating traded sector. Those circumstances have typically raised the question of the de-sirability of some stabilization policy. We show that the dynamics induced by an expected productivity shock in an economy where the capital stock is non-mobile across sectors, match those circumstances. Furthermore, we obtain that credit market imperfections tend to exacerbate trade deficits, and to cause an inefficient capacity reduction in the traded sector. Some stabilization policies are explored.
- dc.format.mimetype application/pdfca
- dc.identifier https://econ-papers.upf.edu/ca/paper.php?id=397
- dc.identifier.uri http://hdl.handle.net/10230/771
- dc.language.iso eng
- dc.relation.ispartofseries Economics and Business Working Papers Series; 397
- dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
- dc.rights.accessRights info:eu-repo/semantics/openAccess
- dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
- dc.subject.keyword new open economy macroeconomics
- dc.subject.keyword non-traded-goods
- dc.subject.keyword financial accelerator
- dc.subject.keyword trade deficit persistence
- dc.subject.keyword Macroeconomics and International Economics
- dc.title Economic booms, trade deficits and economic policyca
- dc.type info:eu-repo/semantics/workingPaper