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United States current account deficits : a stochastic optimal control analysis

Stein, Jerome L. (contributor) - 2006

Persistent link: https://www.econbiz.de/10003377247

China's exchange rate impasse and the weak U.S. dollar

McKinnon, Ronald Ian (contributor); … - 2008

Since 2004, China has been backed into a situation where the renminbi is expected to go ever higher against the dollar, and this one-way bet has led to a loss of domestic monetary control. Combined with a more general flight from the U.S. dollar, the resulting monetary explosion in China...

Persistent link: https://www.econbiz.de/10003749649

Japan's imbalance of payments

Müller-Plantenberg, Nikolas - 2003

During the past three decades, Japan s current account experienced five large swings. The yen appreciated considerably … in periods when the current account boomed, and it depreciated whenever Japan s external performance weakened. However … regularities. It argues that as a result of the large movements of the current account, the flows of cash between Japan and ist …

Persistent link: https://www.econbiz.de/10011404619

The impact of financial (de-)regulation on current account balances

Moral-Benito, Enrique; Röhn, Oliver - 2014

Both global imbalances and financial market (de-)regulation feature prominently among the potential causes of the global financial crisis, but they have been largely discussed separately. In this paper, we take a different angle and investigate the relationship between financial market...

Persistent link: https://www.econbiz.de/10010436581

Macroeconomic policy making and current account imbalances in the euro area

Murai, Taiki; Schnabl, Gunther - 2021

The paper analyses the role of fiscal and monetary policy for the development of the current account imbalances in the euro area, including the most recent developments during the coronavirus crisis. Several financial transmission channels such as international bank lending, changes in TARGET2...

Persistent link: https://www.econbiz.de/10012550195

What do we really know about the transatlantic current account?

Braml, Martin T.; Felbermayr, Gabriel - 2019

Do the U.S. have a current account surplus or a deficit with the EU? Since 2009, official sources disagree: The U.S. Department of Commerce claims a consistent U.S. surplus while Eurostat reports the opposite. International transactions are notoriously difficult to measure accurately, but the...

Persistent link: https://www.econbiz.de/10012065058

Fiscal consolidation and the current account : OECD evidence

Breuer, Christian; Nam, Chang-woon - 2020

We apply a "new" conventional (CAPB-based) measure of fiscal policy, which is less prone to endogeneity issues, and find that a 1-percent of GDP fiscal consolidation leads to the improvement of the current account-to-GDP ratio by approximately 0.8 percent of GDP, while previous research based on...

Persistent link: https://www.econbiz.de/10012157972

Bootstrap panel Granger-causality between government budget and external deficits for the EU

Afonso, António; Rault, Christophe - 2009

We investigate the existence of Granger-causality between current account and government budget balances over the period 1970-2007, for different EU and OECD country groupings. We use the panel-data approach of Kónya (2006), which is based on SUR systems and Wald tests with country specific...

Persistent link: https://www.econbiz.de/10003818006

Inter-temporal savings, current account dynamics and asymmetric shocks in a heterogeneous European Monetary Union

Schnabl, Gunther; Zemanek, Holger - 2010

In the current debate on the reasons and implications of the Greek and Irish euro crisis, the intra-European current account imbalances have gained rising attention. Whereas Greece and Ireland struggle for austerity in private and public spending, Germany is urged to reduce its current account...

Persistent link: https://www.econbiz.de/10008798227

Patterns of current account adjustment : insights from past experience

Algieri, Bernardina (contributor); … - 2007

Persistent link: https://www.econbiz.de/10003498784

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