Add to ORKGCe working paper a fait l'objet d'une publication in Economics Letters, 122(2):303-307, 2014We consider a small-open, collateral-constrained AK economy. We show that the combination of CARA preferences and uncertainty on capital inflows in such an economy generates long-term (expected) growth while the deterministic counterpart does not. In this framework, long-term growth is entirely driven by precautionary savings. In particular, we show that the asymptotic growth rate of the expected capital stock is an increasing function of both the risk parameter and the Arrow-Prat absolute risk aversion parameter. The model also predicts that economies that are more financially integrated through international borrowing experience lower consumption g...
International audienceWe analyze the consequences of external debt collaterals on the optimal growth...
We find a closed form solution that maximises the expected utility of an agent’s inter-temporal cons...
International audienceIn this paper, we study the effects of collaterals on business cycles and grow...
Ce working paper a fait l'objet d'une publication in Economics Letters, 122(2):303-307, 2014We consi...
ACL-3International audienceWe consider a small-open, collateral-constrained AK economy. We show that...
[[abstract]]This paper mainly shows that capital evolution may display saddle-path convergence even ...
We generalize endogenous growth models, which often assume a closed-economy, to allow for internatio...
In this paper, we revisit the question of how domestic and foreign risks affect growth through the l...
Some recent evidence on government finance statistics of European countries suggests that countries ...
This paper incorporates the spirit of capitalism, or a preference for capital into a stochastic ...
ACL-2International audienceEmpirical evidence on the growth benefits of capital inflows is mixed. Th...
Empirical evidence on the growth benefits of capital inflows is mixed. The growth benefits accruing ...
This paper analyzes the consequences of external debt collaterals on the optimal growth path of a co...
This paper investigates the growth effects of the restrictions on capital account payments as a meas...
This paper develops a simple overlapping-generations model where agents’ income is given both by a s...
International audienceWe analyze the consequences of external debt collaterals on the optimal growth...
We find a closed form solution that maximises the expected utility of an agent’s inter-temporal cons...
International audienceIn this paper, we study the effects of collaterals on business cycles and grow...
Ce working paper a fait l'objet d'une publication in Economics Letters, 122(2):303-307, 2014We consi...
ACL-3International audienceWe consider a small-open, collateral-constrained AK economy. We show that...
[[abstract]]This paper mainly shows that capital evolution may display saddle-path convergence even ...
We generalize endogenous growth models, which often assume a closed-economy, to allow for internatio...
In this paper, we revisit the question of how domestic and foreign risks affect growth through the l...
Some recent evidence on government finance statistics of European countries suggests that countries ...
This paper incorporates the spirit of capitalism, or a preference for capital into a stochastic ...
ACL-2International audienceEmpirical evidence on the growth benefits of capital inflows is mixed. Th...
Empirical evidence on the growth benefits of capital inflows is mixed. The growth benefits accruing ...
This paper analyzes the consequences of external debt collaterals on the optimal growth path of a co...
This paper investigates the growth effects of the restrictions on capital account payments as a meas...
This paper develops a simple overlapping-generations model where agents’ income is given both by a s...
International audienceWe analyze the consequences of external debt collaterals on the optimal growth...
We find a closed form solution that maximises the expected utility of an agent’s inter-temporal cons...
International audienceIn this paper, we study the effects of collaterals on business cycles and grow...