Current Account Deficits External Liabilities And Economic Policy
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Current Account Deficits External Liabilities And Economic Policy
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Author : Mr.J. D. Pitchford
language : en
Publisher: International Monetary Fund
Release Date : 1992-07-01
Current Account Deficits External Liabilities And Economic Policy written by Mr.J. D. Pitchford and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992-07-01 with Business & Economics categories.
This paper assesses the policy significance of foreign liabilities and the current account deficits that give rise to them. Current account imbalances are shown to have some capacity to indicate difficulties elsewhere in the economy, but are imperfect indicators and subject to potential misinterpretation. The paper concludes that successful pursuit of internal balance could be an important factor in stabilizing current account balances, but, beyond that, there seems no good reason for using macroeconomic policy to target the current account as such. However, there may be grounds for microeconomic action to remedy specifically identified problems.
Current Account Deficits External Liabilities Ans Economic Policy
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Author : John Pitchford
language : en
Publisher:
Release Date : 1992
Current Account Deficits External Liabilities Ans Economic Policy written by John Pitchford and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with categories.
Current Accounts Deficits External Liabilities And Economic Policies
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Author : John Pitchford
language : en
Publisher:
Release Date : 1992
Current Accounts Deficits External Liabilities And Economic Policies written by John Pitchford and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with categories.
The Current Account And Foreign Debt
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Author : John Pitchford
language : en
Publisher: Routledge
Release Date : 2002-03-11
The Current Account And Foreign Debt written by John Pitchford and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-03-11 with Business & Economics categories.
It is generally assumed that current deficits are intrinsically bad and in need of correction. The Current Account and Foreign Debt argues that this is not always the case. The author analyses a broad range of issues in support of this argument. These include: * Approaches to current account balance * Short run issues * Longer run issues * Policy The book can be read as an integrated whole, or alternatively, each chapter can be consulted without reference to the others. The Current Account and Foreign Debt provides the counterbalance to a common misapprehension in economic theory. It will be a valuable guide for all those interested in international monetary theory.
Sustainability Of Persistent Current Account Deficits
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Author : Gian Maria Milesi-Ferretti
language : en
Publisher:
Release Date : 1996
Sustainability Of Persistent Current Account Deficits written by Gian Maria Milesi-Ferretti and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Budget deficits categories.
This paper puts forward a notion of current account sustainability that explicitly takes into account willingness to pay and willingness to lend in addition to intertemporal solvency. It argues that this notion of sustainability provides a better framework for understanding the variety of country experiences with protracted current account imbalances. Based on this notion, we identify a number of operational indicators related to the structure of the economy, the economic policy stance, and political economy factors. We use these sustainability indicators to evaluate the experience of a number of countries that ran persistent current account imbalances, and derive policy implications consistent with our notion of sustainability.
The United States As A Debtor Nation
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Author : William R. Cline
language : en
Publisher: Peterson Institute
Release Date : 2005
The United States As A Debtor Nation written by William R. Cline and has been published by Peterson Institute this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Balance of trade categories.
The United States has once again entered into a period of large external imbalances. This study examines whether the large and growing currentaccount deficit is a problem, and if so, how problem can be solved.
Current Account Reversals And Currency Crises
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Author : Mr.Gian Milesi-Ferretti
language : en
Publisher: International Monetary Fund
Release Date : 1998-06-01
Current Account Reversals And Currency Crises written by Mr.Gian Milesi-Ferretti and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-06-01 with Business & Economics categories.
This paper studies large reductions in current account deficits and exchange rate depreciations in low- and middle-income countries. It examines which factors help predict the occurrence of a reversal or a currency crisis, and how these events affect macroeconomic performance. Both domestic factors, such as the low reserves, and external factors, such as unfavorable terms of trade, are found to trigger reversals and currency crises. The two types of events are, however, distinct; an exchange rate crash is associated with a fall in output growth and a recovery thereafter, while for reversals there is no systematic evidence of a growth slowdown.
Macroeconomics For Professionals
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Author : Leslie Lipschitz
language : en
Publisher: Cambridge University Press
Release Date : 2019-01-23
Macroeconomics For Professionals written by Leslie Lipschitz and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-01-23 with Business & Economics categories.
Understanding macroeconomic developments and policies in the twenty-first century is daunting: policy-makers face the combined challenges of supporting economic activity and employment, keeping inflation low and risks of financial crises at bay, and navigating the ever-tighter linkages of globalization. Many professionals face demands to evaluate the implications of developments and policies for their business, financial, or public policy decisions. Macroeconomics for Professionals provides a concise, rigorous, yet intuitive framework for assessing a country's macroeconomic outlook and policies. Drawing on years of experience at the International Monetary Fund, Leslie Lipschitz and Susan Schadler have created an operating manual for professional applied economists and all those required to evaluate economic analysis.
Fiscal Deficits And Current Account Deficits
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Author : Mr.Michael Kumhof
language : en
Publisher: International Monetary Fund
Release Date : 2009-10-01
Fiscal Deficits And Current Account Deficits written by Mr.Michael Kumhof and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-10-01 with Business & Economics categories.
The effectiveness of recent fiscal stimulus packages significantly depends on the assumption of non-Ricardian savings behavior. We show that, under the same assumption, fiscal deficits can have worrisome implications if they turn out to be permanent. First, if they occur in large countries they significantly raise the world real interest rate. Second, they cause a short run current account deterioration equal to around 50 percent of the fiscal deficit deterioration. Third, the longer run current account deterioration equals almost 75 percent for a large economy such as the United States, and almost 100 percent for a small open economy.
Current Account Imbalances In Asean Countries
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Author : Mr.Jonathan David Ostry
language : en
Publisher: International Monetary Fund
Release Date : 1997-04-01
Current Account Imbalances In Asean Countries written by Mr.Jonathan David Ostry and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-04-01 with Business & Economics categories.
Applying a consumption-smoothing model to five ASEAN countries reveals that excessive private consumption has not tended to characterize their widening external imbalances in recent years, except to a small degree in Indonesia and Malaysia. Beyond consumption smoothing, however, a number of factors influence the desirability of running large external deficits, including the level and composition of external liabilities, the flexibility of macroeconomic policies, and the health of banking systems. Even when the current account deficit appears sustainable, there is a case to reduce them in order to lower the risks arising from such factors.
