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The Effects of Currency Substitutionon the Response of the Current Account to Supply Shocks

The Effects of Currency Substitutionon the Response of the Current Account to Supply Shocks »

Source: The Effects of Currency Substitutionon the Response of the Current Account to Supply Shocks

Volume/Issue: 1988/5

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1988

ISBN: 9781451929454

Keywords: current account, balance of payments, oil shock, current account surplus, oil prices

Standard real models predict that a permanent increase in oil prices would result in a current account surplus. This is due to the fact that investment falls while saving remains unchanged. This paper shows that if...

The Effects of Currency Substitutionon the Response of the Current Account to Supply Shocks

The Effects of Currency Substitutionon the Response of the Current Account to Supply Shocks »

Volume/Issue: 1988/5

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1988

DOI: http://dx.doi.org/10.5089/9781451929454.001

ISBN: 9781451929454

Keywords: current account, balance of payments, oil shock, current account surplus, oil prices

Standard real models predict that a permanent increase in oil prices would result in a current account surplus. This is due to the fact that investment falls while saving remains unchanged. This paper shows that if...