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      <record key="001" att1="001" value="139933" att2="139933">001   139933</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-107.pdf</field>
      <field key="079" subkey="z">Fisher, Walter H., Current Account Dynamics in a Small Open Economy Model of Status Seeking (pdf)</field>
      <field key="079" subkey="y">http://ideas.repec.org/p/ihs/ihsesp/107.html</field>
      <field key="079" subkey="z">Institute for Advanced Studies. Economics Series; 107 (RePEc)</field>
      <field key="100" subkey="">Fisher, Walter H.</field>
      <field key="103" subkey="">Department of Economics and Finance, Institute for Advanced Studies</field>
      <field key="331" subkey="">Current Account Dynamics in a Small Open Economy Model of Status Seeking</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, October</field>
      <field key="433" subkey="">25 pp., Figures</field>
      <field key="451" subkey="">Institut für Höhere Studien; Reihe Ökonomie; 107</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; Steady State Equilibrium and Macroeconomic Dynamics; Conclusions;</field>
      <field key="542" subkey="">1605-7996</field>
      <field key="544" subkey="">IHSES 107</field>
      <field key="700" subkey="">E21</field>
      <field key="700" subkey="">F41</field>
      <field key="720" subkey="">Current account</field>
      <field key="720" subkey="">Status seeking</field>
      <field key="720" subkey="">Relative wealth</field>
      <field key="720" subkey="">Open economy dynamics</field>
      <field key="753" subkey="">Abstract: In this paper we will use a status-preference framework, together with a standard cost of adjustment investment</field>
      <field key="fun" subkey="c">tion, to study the dynamics of the small open economy current account balance. We demonstrate that the transitional dynamics</field>
      <field key="of" subkey="t">he economy is characterized by two speeds of adjustment: a speed of adjustment arising from status-preference and a speed of</field>
      <field key="adj" subkey="u">stment arising from installation costs of investment. This structure implies that the current account balance depends on both</field>
      <field key="spe" subkey="e">ds of adjustment as well as on the long-run equilibrium. As a consequence, the current account can exhibit non-monotonic</field>
      <field key="beh" subkey="a">vior in transition to the steady state.;</field>
    </SEQUENTIAL>
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