Showing 1 - 8 of 8
Do external imbalances increase the risk of financial crises? In this paper, we study the experience of 14 developed …
Persistent link: https://www.econbiz.de/10012462090
This paper evaluates the degree to which current account patterns are explained by the variables suggested by the literature, and reflects on possible future patterns. We start with panel regressions explaining the current account of 69 countries during 1981-2006. We identify an asymmetric...
Persistent link: https://www.econbiz.de/10012464194
This paper studies the association between the current account and real estate valuation across countries, subject to data availability [43 countries, of which 25 are OECD], during 1990 - 2005. We find robust and strong positive association between current account deficits and the appreciation...
Persistent link: https://www.econbiz.de/10012464726
the world and, b) heterogeneity in these regions' capacity to generate financial assets from real investments. In …
Persistent link: https://www.econbiz.de/10012466674
Recent globalization trends have refocused attention on the historical evolution of international capital mobility over the long run. The issue is examined here using time-series analysis of current-account dynamics for fifteen countries since circa 1850. The inter-war period emerges as an era...
Persistent link: https://www.econbiz.de/10012469787
This paper explores the consequences of extremely low equilibrium real interest rates in a world with integrated but …) While more price and wage flexibility exacerbates the risk of a deflationary global liquidity trap, it is the more rigid …
Persistent link: https://www.econbiz.de/10012456999
We provide an overview of the recent developments of the literature on the determinants of long term capital flows, global imbalances and valuation effects. We present the main stylized facts of the new international financial landscape in which external balance sheets of countries have grown in...
Persistent link: https://www.econbiz.de/10012459422
In broad perspective, there have been essentially two competing views of the global financial crisis, albeit there are some complementarities among them. One view looks across the border: it mainly blames external imbalances, the large-scale mix of unprecedented pattern current account deficits...
Persistent link: https://www.econbiz.de/10012460056