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      <record key="001" att1="001" value="137501" att2="137501">001   137501</record>
      <field key="037" subkey="x">englisch</field>
      <field key="050" subkey="x">Forschungsbericht</field>
      <field key="076" subkey="">Ökonomie</field>
      <field key="079" subkey="y">http://www.ihs.ac.at/publications/eco/es-99.pdf</field>
      <field key="079" subkey="z">Fisher, Walter H., Status Preference, Wealth, and Dynamics in the Open Economy (pdf)</field>
      <field key="079" subkey="y">http://ideas.repec.org/p/ihs/ihsesp/99.html</field>
      <field key="079" subkey="z">Institute for Advanced Studies. Economics Series; 99 (RePEc)</field>
      <field key="100" subkey="">Fisher, Walter H.</field>
      <field key="103" subkey="">Department of Economics and Finance, Institute for Advanced Studies, Vienna</field>
      <field key="331" subkey="">Status Preference, Wealth, and Dynamics in the Open Economy</field>
      <field key="403" subkey="">1. Ed.</field>
      <field key="410" subkey="">Wien</field>
      <field key="412" subkey="">Institut für Höhere Studien</field>
      <field key="425" subkey="">2001, April</field>
      <field key="433" subkey="">25 pp., Figures</field>
      <field key="451" subkey="">Institut für Höhere Studien; Reihe Ökonomie; 99</field>
      <field key="451" subkey="h">Kunst, Robert M. (Ed.) ; Fisher, Walter (Assoc. Ed.) ; Ritzberger, Klaus (Assoc. Ed.)</field>
      <field key="461" subkey="">Economics Series</field>
      <field key="517" subkey="c">from the Table of Contents: Introduction; The Model and Intertemporal Equilibrium; Comparative Dynamics; Conclusions and</field>
      <field key="Ext" subkey="e">nsions; Appendix;</field>
      <field key="542" subkey="">1605-7996</field>
      <field key="544" subkey="">IHSES 99</field>
      <field key="700" subkey="">E21</field>
      <field key="700" subkey="">F41</field>
      <field key="720" subkey="">Status-preference</field>
      <field key="720" subkey="">Open economy dynamics</field>
      <field key="753" subkey="">Abstract: The implications of status preference in a simple open economy model will be investigated in this paper. The open</field>
      <field key="eco" subkey="n">omy is modeled as a continuum of identical representative agents who have preferences over consumption and status. In</field>
      <field key="the" subkey="p">aper status is identified as relative wealth, which takes the form of relative holdings international financial assets. A</field>
      <field key="sym" subkey="m">etric macroeconomic equilibrium is derived in which status is the source of transitional dynamics for consumption and the</field>
      <field key="cur" subkey="r">ent account balance. This result illustrates another way to generate transitional dynamics in the small open economy model,</field>
      <field key="whi" subkey="c">h, as is well-known, does not have well-defined dynamics under perfect capital mobility. The role of status plays in</field>
      <field key="inf" subkey="l">uencing the open economy's adjustment to various macroeconomic shocks is also considered.;</field>
    </SEQUENTIAL>
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