01623cas a2200241 a 4500 AALejournalIMF009945 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451944983 1018-5941 BD-DhAAL BD-DhAAL International Monetary Fund. Equilibrium in a Non-Interest Open Economy. Washington, D.C. : International Monetary Fund, 1988. 1 online resource (36 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper analyzes an economy in which there are no interest-bearing assets, only equity shares. Equilibrium conditions are derived for the case of a closed economy, an open economy with trade in goods only, and finally one with trade in both goods and equity shares. It is shown that the rate of return to capital equilibrates savings and investment, that the differential between the domestic and foreign rates of return to equity determines the direction of capital flows, and that under a fixed exchange rate system, adjustments induced by exchange rate changes are channeled through the asset accounts. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1988/111 Full text available on IMF http://elibrary.imf.org/view/journals/001/1988/111/001.1988.issue-111-en.xml IMF e-Library