Global Imbalances and the Current Account Adjustment Process: An Empirical Analysis
نویسندگان
چکیده
منابع مشابه
Global Current Account Adjustment: A Decomposition
The rising current account deficit in the USA has attracted considerable attention in recent years. We use the “business cycle accounting” methodology to identify the principal distortions that have affected the external accounts of the US. In particular, we measure distortions in the optimality conditions of a simple two-country general equilibrium model using data from the US and the other G7...
متن کاملCurrent account imbalances and international financial integration
International capital flows expanded strongly before the global financial crisis, and current account imbalances accumulated in key economies. The crisis triggered a contraction in capital flows, which often forced a painful adjustment on countries running high external deficits. This special issue of the Journal of International Money and Finance consists of seven papers that offer novel empir...
متن کاملDomestic or global imbalances? Rising inequality and the fall in the US current account
This paper shows how the rise in individual income risk in the US since the 1980s might help explain the fall in its foreign asset position. The key to this result is endogenous financial deepening in an open economy with participation-constrained domestic financial markets. There, more volatile income makes individuals less inclined to default on financial contracts as this excludes them from ...
متن کاملCurrency Appreciation and Current Account Adjustment
Global current account imbalances, more specifically the large deficit in the United States and the surplus in China and some other Asian economies, continue to attract considerable attention both among policy makers and academics. While the academic literature has focused predominantly on the sustainability of the imbalance and on the exchange-rate consequences of its elimination, many policy ...
متن کاملconsequence analysis of the leakage, ignition and explosion during high pressure sour gas injection process to the oil reservoir
there is no doubt that human being needs to become integrated with industry and industry needs to be progressed, daily. on the other hand, serious events in industrial units specially in oil industries has been shown that such damages and events are industry related ones. the consequence of such events and damages which resulted in chemical and poisoned explosions and loss of life and property ...
ذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2010
ISSN: 1556-5068
DOI: 10.2139/ssrn.1639790