Arbeitspapier
Deregulation and the current account
This paper studies how removing barriers to competition in the nontraded goods sector affects the current account, the real exchange rate, and factor prices in a small open economy. We show that the expansion of the nontraded sector that results from a deregulation shock is associated with an accumulation of foreign assets unless production of nontraded goods is very capital-intensive. Moreover, while the real exchange rate decreases monotonically towards its new steady state, the real wage may temporarily overshoot its long-run level.
- Sprache
-
Englisch
- Erschienen in
-
Series: Diskussionsbeiträge - Serie I ; No. 315
- Klassifikation
-
Wirtschaft
Market Structure, Pricing, and Design: Oligopoly and Other Forms of Market Imperfection
Current Account Adjustment; Short-term Capital Movements
Open Economy Macroeconomics
- Thema
-
deregulation
imperfect competition
current account
nontraded goods
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Harms, Philipp
- Ereignis
-
Veröffentlichung
- (wer)
-
Universität Konstanz, Fachbereich Wirtschaftswissenschaften
- (wo)
-
Konstanz
- (wann)
-
2001
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Harms, Philipp
- Universität Konstanz, Fachbereich Wirtschaftswissenschaften
Entstanden
- 2001
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