MARC Record from University of Toronto

LEADER: 01886cam 2200277 a 4500
001 ocm60381547
005 20051220015751.0
008 050516s2005 dcua b i000 0 eng d
039 $frv
100 1 $aGhironi, Fabio.
245 10 $aNet foreign asset position and consumption dynamics in the international economy /$cprepared by Fabio Ghironi, Talan B. İşcan, and Alessandro Rebucci.
260 $aWashington, D.C. :$bInternational Monetary Fund, Research Dept.,$cc2005.
300 $a33 p. :$bill. ;$c28 cm.
440 0 $aIMF working paper ;$vWP/05/82
500 $a"April 2005."
504 $aIncludes bibliographical references (p. 26-28).
530 $aAlso available on the World Wide Web.
520 3 $aWe examine the effect of non-zero, long-run foreign asset positions on consumption dynamics in response to productivity shocks in a two-country, dynamic, general equilibrium model, with different discount factors across countries populated by overlapping generations of households. We then compare the model results to those of a VAR for the United States versus the rest of the G-7. In the data, we find that permanent worldwide productivity shocks lead to net foreign asset and consumption dynamics that are consistent with interpreting the United States as the impatient economy in our model and are not consistent with symmetric models with equal discount factors.
650 0 $aAlien property$xEconometric models.
650 0 $aConsumption (Economics)$xEconometric models.
650 0 $aProduction (Economic theory)$xEconometric models.
700 1 $aİşcan, Talan Behçet,$d1966-
700 1 $aRebucci, Alessandro.
710 2 $aInternational Monetary Fund.$bResearch Dept.
856 41 $3Full text;$zIssues from 1997- :$uhttp://www.imf.org/external/pubs/cat/wp1%5Fsp.cfm?
949 $aUN9..MF...6-2005I82$wLC$c1$i5646077-2001$lGOVPUBS$mDATAMAPGOV$rN$sY$tBOOK$u20/12/2005