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The U.S. Current Account Deficit and the Global Economy

The U.S. Current Account Deficit and the Global Economy »

Series: Other Periodicals

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 December 2004

DOI: http://dx.doi.org/10.5089/9781451980929.029

ISBN: 9781451980929

Keywords: current account deficit, current account, current account deficits, exchange rate, exchange rates

This paper presents the views of Lawrence H. Summers on the U.S. current account deficit and the global economy. Summers highlights that the U.S. current account deficit is currently running well in excess of US$60...

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...

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...

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...

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: 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 t...

Current Account Deficits, External Liabilities and Economic Policy

Current Account Deficits, External Liabilities and Economic Policy »

Source: Current Account Deficits, External Liabilities and Economic Policy

Volume/Issue: 1992/54

Series: IMF Working Papers

Author(s): J. Pitchford

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1992

ISBN: 9781451847437

Keywords: current account, current account deficit, current account balance, current account deficits, foreign debt

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 elsewh...

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 Accounts

Current Accounts »

Source: Current Accounts : What Is Their Relevance for Economic Policymaking?

Volume/Issue: 1998/71

Series: IMF Working Papers

Author(s): Fabio Scacciavillani , and Malcolm Knight

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1998

ISBN: 9781451849219

Keywords: current account sustainability, current account balance, current account deficit, balance of payments, current account position

This paper surveys the main theoretical approaches for analyzing movements in the current account of the balance of payments, from the Mundell-Fleming paradigm to modern intertemporal approaches. It discusses the m...

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...

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...