Series: IMF Working Papers
Author(s): Jaewoo Lee , Yongsung Chang , and Sun-Bin Kim
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 December 2009
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...