Tesis doctoral de Alexandre Dmitriev
His doctoral thesis consists of three self-contained essays in macroeconomics and economic growth. Essay 1. «Technological transfers, limited commitment and growth»evidence shows that there are substantial rich-to-poor international capital flows although not as abundant as differences in rates of return would suggest. These flows are procylcical: abundant in good times and scarce in bad times. They have been reported to promote growth and stability in some countries, but merely to augment instability in the others. Conventional growth models face certain difficulties in accounting for this pattern. In this paper, we propose a dynamic model of capital flows to developing countries which is qualitatively consistent with these empirical regularities. The model is based on three main premises: i) international lending contracts are imperfectly enforceable; ii) access to the international financial markets results in technological transfers to a developing country from the rest of the world; iii) some of the productivity gains associated with the access to external financing are perishable. We solve for transitional dynamics of the model economy with endogenously incomplete markets and compare the results with the solutions obtained from the perfect risk-sharing and autarkic environments. In addition, we examine the implications of alternative assumptions about the severity of the repudiation punishment for growth, welfare and borrowing patterns. Our findings suggest that technological transfers may play a role of an important enforcement mechanism. In our framework, existence of substantial rich-to-poor capital flows is not inconsistent with the presence of default risk. Essay 2. «A note on computing partial derivatives of the value function by simulation»the problems involving incentive compatibility constraints in the form of dynamic participation constrains have received wide attention in the literature due to the recent advances in dynamic optimization tec
Datos académicos de la tesis doctoral «On endogenous market incompleteness, cycles and growth«
- Título de la tesis: On endogenous market incompleteness, cycles and growth
- Autor: Alexandre Dmitriev
- Universidad: Autónoma de barcelona
- Fecha de lectura de la tesis: 05/09/2007
Dirección y tribunal
- Director de la tesis
- Jordi Caballe Vilella
- Tribunal
- Presidente del tribunal: albert Marcet torrens
- serguei Maliar (vocal)
- Juan Carlos Conesa roca (vocal)
- Jesús Vázquez (vocal)