Impact of Investment Openness on National External Wealth: Based on Valuation Effects Perspective

Table 5

Calibrated static parameters.

Variable	Variable definitions	Value	Variable	Variable definitions	Value
	The discount factor	0.99		Consumer risk aversion coefficient	2.00
	Capital depreciation rate	0.10		Capital as a proportion of production	0.34
	Home country consumption/investment preference	0.85		Elasticity of labor supply	0.50
	Elasticity of substitution between domestic and foreign products	3.50		Steady-state price index	1.00