This paper analyzes the behavior of the current account and the exchange rate in the British economy during the 1970's, and discusses the outlook, as influenced by the availability of oil revenues, for exchange rate developments during the 1980's.Both trade and exchange rate behavior are...

While the pre-1914 mass migrations have been widely studied, the related pattern of emigrants' remittances is still largely untouched. This paper aims at filling this gap by analyzing the contribution of remittances to financial stability. In the optimum currency area theory labor mobility can...

This paper analyzes the behavior of the current account and the exchange rate in the British economy during the 1970's, and discusses the outlook, as influenced by the availability of oil revenues, for exchange rate developments during the 1980's.Both trade and exchange rate behavior are...

This article looks at developments in the UK external balance sheet in the wider context of the UK economy and financial system. UK net external liabilities increased sharply in the late 1990s. This largely reflected changing asset values, including exchange rates, rather than financial flows....

In 2000, UK gross external assets and liabilities grew by more than 20%, boosted particularly by international mergers and acquisitions and international banking activity. In net terms, UK external liabilities fell moderately but remained substantial, at about 13% of annual GDP. This fall was...

The external balance sheet (or international investment position) gives the most complete picture of the stock position of a country in its financial transactions with the rest of the world. The very breadth of coverage of the data leads inevitably to problems of measurement and valuation....

The United Kingdom's external balance sheet currently records assets and liabilities of more than 3.5 trillion pounds. Both sides of the external balance sheet grew sharply during 2003, continuing the marked expansion that has been recorded since the early 1990s. This article examines recent...