Neoclassical Growth in an Interdependent World
Status: This talk is in preparation - details may change
Status: This talk has been cancelled
We generalize the open-economy neoclassical growth model to allow for trade and capital market frictions and imperfect substitutability of goods and capital across countries. The multi-country model is tractable, amenable to quantitative analysis, and matches key empirical patterns such as gravity equations in trade and capital holdings. The degree of integration in trade and capital markets and their interaction shape adjustments to shocks and the speed of convergence to steady state. The model is well-suited to study counterfactual changes in both trade and capital market frictions, such as a decoupling between the United States and China.
Date: 7 May 2024, 13:15 (Tuesday, 3rd week, Trinity 2024)
Venue: Manor Road Building, Manor Road OX1 3UQ
Venue Details: Seminar Room A or https://zoom.us/j/99960790792?pwd=eVFyRGRQc1RRS3l1U1U2UnlKTHBqUT09
Speaker: Stephen Redding (Princeton University)
Organising department: Department of Economics
Part of: Macroeconomics Seminar
Booking required?: Not required
Audience: Members of the University only
Editor: Edward Clark