The Role of Private Financial Wealth in a Portfolio Model

1. Front Matter

   Pages i-xiii

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2. Long-run Effects of Fiscal Policy and Domestic Public Debt on the Real Levels of Exchange Rate and GDP

   • Angel Calderón-Madrid

   Pages 1-30

3. The Dynamics of Real Exchange Rate and Financial Assets of Contractionary Fiscal Policies cum Private Dissavings

   • Angel Calderón-Madrid

   Pages 31-65

4. Stock-Flow Adjustment and the Speed of Convergence of the Economy towards its Long-run Equilibrium

   • Angel Calderón-Madrid

   Pages 67-116

5. Back Matter

   Pages 117-126

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This book considers the implications for the dynamics of the exchange rate and private financial wealth. In a model in which fiscal imbalances are allowed to change the level of domestic public indebtedness. The analysis raises the possibility of an initial appreciation followed by a depreciation and a final exchange rate appreciation. It also highlights the importance that adjustments in the stock of privately-held financial assets have for the determination and speed of medium-run effects of shocks to the economy.

• dynamics
• economy
• equilibrium
• exchange rates
• fiscal policy
• Portfolio
• Portfolio Model

• El Colegio de Mexico, Mexico City, Mexico

  Angel Calderón-Madrid

ANGEL CALDERON-MADRID

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