Borradores de Economia
Number:
225
Published:
Classification JEL:
C32, E32
Keywords:
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
The most recent
Diego Fernando Cuesta-Mora, Fredy Alejandro Gamboa-Estrada, Camilo Eduardo Sánchez-Quinto
José Vicente Romero-Chamorro, Hernando Vargas-Herrera
Juan Camilo Medellín-Martínez, Sergio Restrepo Ángel
This paper investigates the impact of sovereign risk on the stochastic rational expectations equilibrium of a pure exchange small open economy. International borrowing and lending arise from the interaction between a risk averse sovereign representative a