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Preprints, Working Papers, ... Year : 2011

The risky steady state


We propose a simple quantitative method to linearize around the risky steady state of a small open economy. Unlike when the deterministic steady state is used, the net foreign asset position is well defined. We allow for stochastic income and stochastic interest rate.
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hal-00972801 , version 1 (03-04-2014)



Nicolas Coeurdacier, Hélène Rey, Pablo Winant. The risky steady state. 2011. ⟨hal-00972801⟩
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