Capital flows were tracked continuously, but the stocks of foreign assets and liabilities they accumulate into were largely unmeasured outside a handful of industrial countries. This paper builds …
PublishedClassicJournal of International EconomicsPublished Aug 2001
An interim survey of the dynamic general equilibrium open-economy literature that grew out of Obstfeld and Rogoff's 1995 Redux model, organised around the question of which of its assumptions its …