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• W2251003098 abstract "This paper extends the Viner (1948, 1968)-Zou (1997) model of mercantilism by intro- ducing money and foreign exchanges and reexamines macroeconomic eects of policy shocks. It is shown that in the long run, consumption and foreign asset accumulation increases as a result of stronger mercantilist sentiments, permanent increases in the consumption tax, increases in the monetary growth rate and purchases of foreign bonds; and in the short run, macroeconomic disturbances including the mercantilist sentiments, the monetary growth rate, and the consumption tax have negative eects on current consumption and positive eects on current foreign asset accumulation, while purchasing foreign bonds has positive eects on both current consumption and current foreign asset accumulation." @default.
• W2251003098 created "2016-06-24" @default.
• W2251003098 creator A5004483876 @default.
• W2251003098 creator A5063504786 @default.
• W2251003098 date "2015-01-01" @default.
• W2251003098 modified "2023-09-27" @default.
• W2251003098 title "Foreign Asset Accumulation, Macroeconomic Policies and Mercantilism" @default.
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• W2251003098 hasPublicationYear "2015" @default.
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