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periods when their current account deficits have narrowed. Such studies identified systematic aspects of external adjustment ….S. external imbalance. In contrast, this paper focuses in depth on the historical experience of external adjustment in the United … periods of external adjustment is remarkably similar to the foreign experience. Finally, we also examine the performance of …
Persistent link: https://www.econbiz.de/10005368329
In the 1980s, the United States developed a large and persistent current account deficit, financed by borrowing from abroad. The purpose of this paper is to explore the sustainability of these large deficits from one of several possible perspectives. Simulations of a model of the U.S. current...
Persistent link: https://www.econbiz.de/10005368516
America and an investment surge in East Asia. Interpreting the return as an increase in the external debt ceiling, the maximum …
Persistent link: https://www.econbiz.de/10005717236
St. Vincent and the Grenadines’s 2003 Article IV Consultation reports that it had moderate levels of public sector debt and debt service during the 1990s. To reduce growth volatility, since the mid-1990s, the government has attempted to implement an economic diversification program...
Persistent link: https://www.econbiz.de/10005825547
domestic and external environment. Policy discussions were framed by Iraq’s medium-term prospects, especially with regard to …
Persistent link: https://www.econbiz.de/10011242553
The staff report for the 2006 Article IV Consultation on Antigua and Barbuda highlights the economic backdrop and outlook for restoring sound public finances. The government of Antigua and Barbuda has adopted an ambitious reform program in its endeavor to pull the economy from decades of fiscal...
Persistent link: https://www.econbiz.de/10011242743
the adjusted primary balance. The continuous performance criterion on external payments arrears was missed by a small …
Persistent link: https://www.econbiz.de/10011243235
Kosovo’s economic performance has strengthened considerably, but structural deficiencies undermine export sector development and prospects for sustainable growth. The program seeks to restore fiscal sustainability and safeguard financial sector stability. Restoring fiscal sustainability...
Persistent link: https://www.econbiz.de/10011243958
After 1982 the international investment position of the United States dramatically shifted from one of sizable net creditor to much more sizable net debtor. As the U.S. deficit on current international transactions soared to record levels during the mid-1980s, some observers perceived a grave...
Persistent link: https://www.econbiz.de/10005729166
This paper explores the extent to which the Mexican government's inability to roll over its debt during December 1994 and January 1995 can be modeled as a self-fulfilling debt crisis. In the model there is a crucial interval of debt for which the government, although it finds it optimal to repay...
Persistent link: https://www.econbiz.de/10005367672