المستودع الأكاديمي جامعة المدينة

Optimal debt and equilibrium exchange rates in a stochastic environment : an overview

أعرض تسجيلة المادة بشكل مبسط

dc.creator Stein, Jerome L.
dc.date 2004
dc.date.accessioned 2013-10-16T07:01:01Z
dc.date.available 2013-10-16T07:01:01Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/18726
dc.identifier ppn:477510698
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/18726
dc.description The focus is upon equilibrium real exchange rates, optimal external debt and their interaction, in a world where both the return on investment and the real rate of interest are stochastic variables. These theoretically based measures are applied empirically to answer the following questions: What is a theoretically based empirical measure of an "excess debt" that increases the probability of a debt crisis? What is a theoretically based empirical measure of a "misaligned" exchange rate that increases the probability of a currency/balance of payments crises? Two theoretical tools are used to derive Early Warning Signals. One is the NATREX model to estimate the equilibrium real exchange rate. The second is stochastic optimal control/dynamic programming to derive the optimal debt and endogenous growth rate. Examples are given of these applications.
dc.language eng
dc.publisher
dc.relation CESifo working papers 1363
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject F4
dc.subject F3
dc.subject D9
dc.subject C61
dc.subject D81
dc.subject F34
dc.subject F31
dc.subject ddc:330
dc.subject stochastic optimal control
dc.subject foreign debt
dc.subject NATREX
dc.subject vulnerability to external shocks
dc.subject sustainable current account
dc.subject warning signals of debt crisis
dc.subject Kaufkraftparität
dc.subject Wechselkurs
dc.subject Gleichgewicht
dc.subject Auslandsverschuldung
dc.subject Realzins
dc.subject Stochastischer Prozess
dc.subject Kontrolltheorie
dc.subject Währungskrise
dc.subject Frühwarnsystem
dc.subject Theorie
dc.title Optimal debt and equilibrium exchange rates in a stochastic environment : an overview
dc.type doc-type:workingPaper


الملفات في هذه المادة

الملفات الحجم الصيغة عرض

لا توجد أي ملفات مرتبطة بهذه المادة.

هذه المادة تبدو في المجموعات التالية:

أعرض تسجيلة المادة بشكل مبسط