Saving and Investment in an Open Economy with Non-Traded Goods
构建一个小型开放经济模型，包含金融资本自由流动、资本品投资和非贸易品，解释储蓄与投资为何相关、高储蓄国为何仍从国外借款投资，并提供一个国际收支阶段的优化模型。
We examine a model of a small open economy in which there is free international mobility of financial capital, investment in capital goods and a non-traded good.Such an environment is rich enough to explain several phenomena that are inexpicable in more barren models.We suggest an explanation of why saving and investment may be correlated even with no restrictions on trade in assets.We explain why a high saving country may nonetheless borrow from abroad to finace investment.We also provide an optimizing model of stages in the balance of payments.