Arbeitspapier
Imports, status preference, and foreign borrowing
This paper considers the implications of consumption and borrowing externalities in a small open economy framework. The former reflect the assumption that status conscious agents care about the relative consumption of imported goods, while the latter arise because agents do not take into account the effects of their borrowing decisions on the interest rate on debt. We analyze in the paper the impact of an increase in the degree of status preference on the saddlepath adjustment of the decentralized economy. In addition, the contrasting steadystate and dynamic properties of the social planner's economy are derived, along with the corresponding optimal tax and subsidy policies.
- Language
-
Englisch
- Bibliographic citation
-
Series: Reihe Ökonomie / Economics Series ; No. 161
- Classification
-
Wirtschaft
Macroeconomics: Consumption; Saving; Wealth
Open Economy Macroeconomics
- Subject
-
imports
status-preference
current account dynamics
Kleines-offenes-Land
Import
Internationaler Kredit
Öffentliche Schulden
Zins
Leistungsbilanz
Theorie
- Event
-
Geistige Schöpfung
- (who)
-
Fisher, Walter H.
- Event
-
Veröffentlichung
- (who)
-
Institute for Advanced Studies (IHS)
- (where)
-
Vienna
- (when)
-
2004
- Handle
- Last update
-
10.03.2025, 11:45 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Fisher, Walter H.
- Institute for Advanced Studies (IHS)
Time of origin
- 2004
Other Objects (12)
Foreign Currency Borrowing : The Case of Hungary
Foreign Currency Borrowing: The Case of Hungary
Growth, stagnation and status preference
Foreign-law bonds : Can they reduce sovereign borrowing costs?
Foreign currency borrowing and knowledge about exchange rate risk
Foreign-law bonds: Can they reduce sovereign borrowing costs?
Foreign-Law Bonds: Can They Reduce Sovereign Borrowing Costs?
Foreign Law Bonds: Can They Reduce Sovereign Borrowing Costs?
Households' Foreign Currency Borrowing in Central and Eastern Europe
Foreign-Law Bonds: Can They Reduce Sovereign Borrowing Costs?
Foreign-law bonds: can they reduce sovereign borrowing costs?
Corporate foreign currency borrowing and investment: The case of Hungary
Foreign Currency Borrowing : The Case of Hungary
Foreign Currency Borrowing: The Case of Hungary
Growth, stagnation and status preference
Foreign-law bonds : Can they reduce sovereign borrowing costs?
Foreign currency borrowing and knowledge about exchange rate risk
Foreign-law bonds: Can they reduce sovereign borrowing costs?
Foreign-Law Bonds: Can They Reduce Sovereign Borrowing Costs?
Foreign Law Bonds: Can They Reduce Sovereign Borrowing Costs?
Households' Foreign Currency Borrowing in Central and Eastern Europe
Foreign-Law Bonds: Can They Reduce Sovereign Borrowing Costs?
Foreign-law bonds: can they reduce sovereign borrowing costs?
Corporate foreign currency borrowing and investment: The case of Hungary
Foreign Currency Borrowing : The Case of Hungary
Foreign Currency Borrowing: The Case of Hungary
Growth, stagnation and status preference
Foreign-law bonds : Can they reduce sovereign borrowing costs?
Foreign currency borrowing and knowledge about exchange rate risk
Foreign-law bonds: Can they reduce sovereign borrowing costs?
Foreign-Law Bonds: Can They Reduce Sovereign Borrowing Costs?
Foreign Law Bonds: Can They Reduce Sovereign Borrowing Costs?
Households' Foreign Currency Borrowing in Central and Eastern Europe
Foreign-Law Bonds: Can They Reduce Sovereign Borrowing Costs?
Foreign-law bonds: can they reduce sovereign borrowing costs?