been significant changes in saving and investment patterns across the world and imbalances have narrowed considerably. Does …

between the bond market and the domestic markets for capital investment, the symmetric steady state may become unstable and …

countries of southern eurozone. The twin deficit hypothesis is tested within the context of a portfolio model involving … southern eurozone coun-tries that affects their Current Account balances, but also the fiscal policy of the eurozone surplus … countries of the north. Interdependence of euro-zone countries suggests that fiscal policy can be used for the elimination of …

monetary union. Using Bayesian techniques, we estimate a two-country DSGE model that distinguishes between Eurozone core and … sensitive to financial shocks while investment and current account imbalances are more sensitive to financial shocks. Finally, a …

of return on U.S. foreign direct investment (FDI) assets than on U.S. FDI liabilities, ongoing borrowing is likely to … true U.S. net investment position close to balance. We argue that intangible capital, while a relevant dimension of …