Why Global and Local Solutions of Open-Economy Models with Incomplete Markets Differ and Why it Matters
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Global and local methods used to study open-economy incomplete-markets models yield different cyclical moments, impulse responses, spectral densities and precautionary savings. Endowment and RBC model solutions obtained with first-order, higher-order, and risky-steady-state local methods are
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美国国家经济研究局创建时间：
2023-08-01
