Document Type
Discussion Paper
Publication Date
5-1-1985
CFDP Number
771
CFDP Pages
32
Abstract
The objective of this paper is to study international lending and borrowing in general equilibrium framework in which countries are subject to stochastic productivity fluctuations. The role of time preference, borrowing limits, and lump sum taxation are rigorously analyzed, yielding results which enrich those obtained in the existing literature.
Recommended Citation
Clarida, Richard H., "International Lending and Borrowing in a Stochastic Sequence Equilibrium" (1985). Cowles Foundation Discussion Papers. 1012.
https://elischolar.library.yale.edu/cowles-discussion-paper-series/1012