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Balance of Payments Imbalances, by Alan Greenspan

Balance of Payments Imbalances, by Alan Greenspan »

Series: Miscellaneous Publication (Other)

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 December 2007

DOI: http://dx.doi.org/10.5089/9781451950113.073

ISBN: 9781451950113

Keywords: Per Jacobsson Foundation, current account, current account deficit, current account balance, balance of payments, current account balances

This paper focuses on the developing countries, which accounted for nearly half the value of those surpluses, were apparently unable to find sufficiently profitable investments at home that overcame market and poli...

Methodology for Current Account and Exchange Rate Assessments

Methodology for Current Account and Exchange Rate Assessments »

Series: Occasional Papers

Author(s): G. Kincaid , Martin Fetherston , Peter Isard , and Hamid Faruqee

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 December 2001

DOI: http://dx.doi.org/10.5089/9781589060814.084

ISBN: 9781589060814

Keywords: Current account balances, Exchange rates, current account, exchange rate, current account positions, real exchange rate

This chapter reports on Coordinating Group on Exchange Rate Issues' (CGER) works and provides perspectives on alternative frameworks for assessing exchange rates and the rationale for CGER's general approach. The p...

Consumption Smoothing and the Current Account

Consumption Smoothing and the Current Account »

Source: Consumption Smoothing and the Current Account : Evidence for France, 1970-1994

Volume/Issue: 1995/119

Series: IMF Working Papers

Author(s): Claude Bismut , Paul Cashin , C. McDermott , and Pierre-Richard Agénor

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1995

ISBN: 9781451940237

Keywords: Current account, Consumption, France, current account balance, current account surplus, current account deficit, current account surpluses

This paper estimates a simple consumption-smoothing model of the French current account, and examines its capacity to predict recent developments in France's external performance. The model views the current accoun...

Macroeconomic Uncertainty, Precautionary Savings and the Current Account

Macroeconomic Uncertainty, Precautionary Savings and the Current Account »

Source: Macroeconomic Uncertainty, Precautionary Savings and the Current Account

Volume/Issue: 1992/72

Series: IMF Working Papers

Author(s): Jonathan Ostry , and Atish Ghosh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 1992

ISBN: 9781451959048

Keywords: current account surplus, current account surpluses, current accounts

The relationship between current account developments and changes in the macroeconomic environment remains a key issue in open economy macroeconomics. This paper extends the standard intertemporal optimizing model...

Growth Following Investment and Consumption-Driven Current Account Crises

Growth Following Investment and Consumption-Driven Current Account Crises »

Source: Growth Following Investment and Consumption-Driven Current Account Crises

Volume/Issue: 2013/217

Series: IMF Working Papers

Author(s): Alexander Klemm

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 October 2013

ISBN: 9781484321898

Keywords: current account deficit, current accounts, current account surpluses

Current account deficits imply increasing liabilities to the rest of the world. External sustainability then depends on whether these can be met in the future without defaulting, i.e., normally through trade accoun...

Current Account and Precautionary Savings for Exporters of Exhaustible Resources1

Current Account and Precautionary Savings for Exporters of Exhaustible Resources1 »

Source: Current Account and Precautionary Savings for Exporters of Exhaustible Resources

Volume/Issue: 2009/33

Series: IMF Working Papers

Author(s): Rudolfs Bems , and Irineu de Carvalho Filho

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2009

ISBN: 9781451871807

Keywords: resources, current account balance, current account balances, current account surpluses

Exporters of exhaustible resources have historically exhibited higher income volatility than other economies, suggesting a heightened role for precautionary savings. This paper uses a parameterized small open econo...

Sharp Reductions in Current Account Deficits

Sharp Reductions in Current Account Deficits »

Source: Sharp Reductions in Current Account Deficits : An Empirical Analysis

Volume/Issue: 1997/168

Series: IMF Working Papers

Author(s): Gian Milesi-Ferretti , and Assaf Razin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1997

ISBN: 9781451858228

Keywords: Current account deficits, current account sustainability, capital flows, current account, current account deficit, current account imbalances, current account balance

The paper studies determinants and consequences of sharp reductions in current account imbalances (reversals) in low- and middle-income countries. It poses two questions: what triggers reversals, and what factors e...

Current Account Dynamics

Current Account Dynamics »

Source: Current Account Dynamics : The Role of Real Shocks

Volume/Issue: 1989/80

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 September 1989

ISBN: 9781451955378

Keywords: current account, current account surplus, current account position, current account dynamics

This paper demonstrates how a full-blown optimizing model of the dynamics of the current account can be reduced to a small-scale collection of reduced-form relations capable of implementing a rich set of macro-econ...

Are Australia's Current Account Deficits Excessive?

Are Australia's Current Account Deficits Excessive? »

Source: Are Australia's Current Account Deficits Excessive?

Volume/Issue: 1996/85

Series: IMF Working Papers

Author(s): C. McDermott , and Paul Cashin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1996

ISBN: 9781451850703

Keywords: Australia, current account, current account deficit, current account deficits, external borrowing, current account balance

This paper compares the evolution of the Australian current account balance over the period 1954-94 against an optimal current account derived from a consumption-smoothing model. The findings indicate that the Aust...

Accounting for Global Dispersion of Current Accounts*

Accounting for Global Dispersion of Current Accounts* »

Source: Accounting for Global Dispersion of Current Accounts

Volume/Issue: 2009/276

Series: IMF Working Papers

Author(s): Jaewoo Lee , Yongsung Chang , and Sun-Bin Kim

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2009

ISBN: 9781451874211

Keywords: Distribution of Current Account, Incomplete Markets, Frictions, current accounts, current account imbalances, current account balances, current account deficit,

We undertake a quantitative analysis of the dispersion of current accounts in an open economy version of incomplete insurance model, incorporating important market frictions in trade and financial flows. Calibrated...