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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...

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...

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 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...

Long-Term Trends in the Saving-Investment Balance and Persistent Current Account Surpluses in a Small Open Economy

Long-Term Trends in the Saving-Investment Balance and Persistent Current Account Surpluses in a Small Open Economy »

Source: Long-Term Trends in the Saving-Investment Balance and Persistent Current Account Surpluses in a Small Open Economy : The Case of the Netherlands

Volume/Issue: 1996/42

Series: IMF Working Papers

Author(s): Ioannis Halikias

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1996

ISBN: 9781451975772

Keywords: current account surplus, current account surpluses, domestic saving

This paper explores, from an investment-saving perspective, the factors underlying the persistent widening of the current account surplus in the Netherlands since the early 1980s. Standard intertemporal models, eve...

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...

The Significance of the Current Account

The Significance of the Current Account »

Source: The Significance of the Current Account : Implications of European Financial Integration

Volume/Issue: 1990/30

Series: IMF Working Papers

Author(s): Lazaros Molho

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 1990

ISBN: 9781451980196

Keywords: current account deficits, current account deficit, current account balance, current account surplus

This paper reasseses the significance of persistent current imbalances as they become easier to finance in the process of European integration. After highlighting some limitations of simple saving-investment guidel...

Do Capital Flows Reflect Economic Fundamentals in Developing Countries?

Do Capital Flows Reflect Economic Fundamentals in Developing Countries? »

Source: Do Capital Flows Reflect Economic Fundamentals in Developing Countries?

Volume/Issue: 1993/34

Series: IMF Working Papers

Author(s): Atish Ghosh , and Jonathan Ostry

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 1993

ISBN: 9781451978827

Keywords: current account, current account deficit, current account balances, current account surplus, debt crisis

This paper proposes a methodology for testing whether capital flows to developing countries are determined by economic fundamentals or by purely speculative forces. We use the intertemporal optimizing approach to c...

Current Account Imbalances

Current Account Imbalances »

Source: Current Account Imbalances : Can Structural Policies Make a Difference?

Volume/Issue: 2012/61

Series: IMF Working Papers

Author(s): Anna Ivanova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2012

ISBN: 9781463937799

Keywords: structural policies, imbalances, current account balance, current accounts, current account surplus,

The discussion of global and regional imbalances has put the spotlight on the possible link between current accounts and structural policies. Drawing on standard empirical current account models, the paper finds th...

The Role of Stock Markets in Current Account Dynamics

The Role of Stock Markets in Current Account Dynamics »

Source: The Role of Stock Markets in Current Account Dynamics : Evidence from the United States

Volume/Issue: 2003/108

Series: IMF Working Papers

Author(s): Benoît Mercereau

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2003

ISBN: 9781451853124

Keywords: fundamental equation, U.S. data, current account deficit, current account dynamics, current account deficits, current account surplus,

This paper tests a model of the role of stock markets in current account dynamics, developed in a companion paper. With U.S. data, the model performs better than the same model without stock markets. An insight giv...

Macroeconomic Uncertainty, Precautionary Savings and the Current Account

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

DOI: http://dx.doi.org/10.5089/9781451959048.001

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...