Similar Search Results

Capital Flows, the Current Account, and the Real Exchange Rate : Consequences of Liberalization and Stabilization

Obstfeld, Maurice - 1984

This paper develops a dynamic framework in which macroeconomic liberalization and stabilization measures of the type recently seen in Latin America can be studied. The model is sufficiently general to cover both polar cases of a closed capital account and free private capital mobility, so the...

Persistent link: https://www.econbiz.de/10012477560

External Adjustment

Obstfeld, Maurice - 2004

Gross stocks of foreign assets have increased rapidly relative to national outputs since 1990, and the short-run capital gains and losses on those assets can amount to significant fractions of GDP. These fluctuations in asset values render the national income and product account measure of the...

Persistent link: https://www.econbiz.de/10012467846

Does the Current Account Still Matter?

Obstfeld, Maurice - 2012

Do global current account imbalances still matter in a world of deep international financial markets where gross two …" view of the world, large current account imbalances, while very possibly warranted by fundamentals and welcome, can also … increasingly big valuation changes in countries' net international investment positions, while potentially important in risk …

Persistent link: https://www.econbiz.de/10012460782