Investimento e poupança na economia aberta de dois setores
DOI:
https://doi.org/10.11606/1980-53571634jectAbstract
This Essay considers the transfer problem, from te point of view of optimum control policies and in a descentralized, perfectly competitive economy. The framework is an infinite-horizon, intertemporal optimizing growth model in a small, two-sector (tradeables and non-tradeables) open economy. We show that the optimal response to both favorable and adverse external economic shocks always includes a change in the level and/or allocation of aggregate investment, and in the savings rate. Higher transfers abroad lead to increased aggregate investment and lower savings, therefore to a larger current account deficit. It is also shown that an adverse change in the (external) terms of trade leads to higher levels of output and net exports of traded goods.
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Copyright (c) 1986 Joaquim Elói Cirne de Toledo
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Atualizado em 14/08/2025