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An Interest Rate Shock and the Behavior of a Small Borrowing Economy
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Cha, Baekin | - |
dc.date.accessioned | 2009-01-15 | - |
dc.date.available | 2009-01-15 | - |
dc.date.issued | 1990-07 | - |
dc.identifier.citation | Seoul Journal of Economics, Vol.3 No.3, pp. 293-312 | - |
dc.identifier.issn | 1225-0279 | - |
dc.identifier.uri | https://hdl.handle.net/10371/899 | - |
dc.description.abstract | For those industrializing countries which borrow from abroad
mainly for investment purposes, investment decision is not passive as predicted by the one-sector growth models. Using the Blanchard-Fischer model with installation costs of investment which separate investment decision from saving decision, we analyze the impacts of the world interest rate shock and show that a drop in the world interest rate cannot always be taken as a favorable shock to the small borrowing economy. While the lower interest rate increases the external debt due to active investment, it can increase or decrease consumption. | - |
dc.language.iso | en | - |
dc.publisher | Institute of Economic Research, Seoul National University | - |
dc.title | An Interest Rate Shock and the Behavior of a Small Borrowing Economy | - |
dc.type | SNU Journal | - |
dc.contributor.AlternativeAuthor | 차백인 | - |
dc.citation.journaltitle | Seoul Journal of Economics | - |
dc.citation.endpage | 312 | - |
dc.citation.number | 3 | - |
dc.citation.pages | 293-312 | - |
dc.citation.startpage | 293 | - |
dc.citation.volume | 3 | - |
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