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Capital flows, the current account, and the real exchange rate : some consequences of stabilization and liberalization
Obstfeld, Maurice - 1986
Persistent link: https://www.econbiz.de/10000722500
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Capital flows, the current account, and the real exchange rate : consequences of liberalization and stabilization
Obstfeld, Maurice - 1984
Persistent link: https://www.econbiz.de/10002582731
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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 …-account liberalization leads to an initial period of real appreciation, but a long-run real depreciation; and the economy passes through … that are the opposite of those arising from capital-account opening. The model suggests that capital-account liberalization …
Persistent link: https://www.econbiz.de/10012477560
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Capital Flows, the Current Account, and the Real Exchange Rate : Consequences of Liberalization and Stabilization
Obstfeld, Maurice - 2021
This paper develops a dynamic framework in which macroeconomic liberalization and stabilization measures of the type …-account liberalization leads to an initial period of real appreciation, but a long-run real depreciation; and the economy passes through … that are the opposite of those arising from capital-account opening. The model suggests that capital-account liberalization …
Persistent link: https://www.econbiz.de/10013243955
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The international financial system after COVID-19
Obstfeld, Maurice - 2022
Persistent link: https://www.econbiz.de/10013166404
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Implications for the Yen of Japanese Current Account Adjustment
Obstfeld, Maurice - Institute of Business and Economic Research (IBER), … - 2006
This paper presents a quantitative evaluation of the effect on the yen of some alternative scenarios under which Japan reaches current account balance. The analytical framework is a global general-equilibrium model, based closely on Obstfeld and Rogoff (2005a, 2005b), within which relative...
Persistent link: https://www.econbiz.de/10010818073
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Perspectives on OECD Economic Integration: Implications for US Current Account Adjustment
Obstfeld, Maurice; Rogoff, Kenneth - Institute of Business and Economic Research (IBER), … - 2000
The US current account deficit has been persistently large and has brought the country's ratio of foreign debt to GDP to 20%, a figure that is high by historical standards. This paper argues that while US solvency is not a near-term constraint on ongoing deficits, the sheer size of the US...
Persistent link: https://www.econbiz.de/10010538643
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The Unsustainable US Current Account Position Revisited
Obstfeld, Maurice; Rogoff, Kenneth - C.E.P.R. Discussion Papers - 2005
We show that the when one takes into account the global equilibrium ramifications of an unwinding of the US current account deficit, currently running at more than 6% of GDP, the potential collapse of the dollar becomes considerably larger than our previous estimates (Obstfeld and Rogoff 2000a)...
Persistent link: https://www.econbiz.de/10005124302
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Nonlinear Aspects of Goods-Market Arbitrage and Adjustment: Heckscher's Commodity Points Revisited
Obstfeld, Maurice; Taylor, Alan M. - C.E.P.R. Discussion Papers - 1997
We propose that analysis of purchasing power parity (PPP) and the law of one price (LOOP) should explicitly take into account the possibility of ‘commodity points’ – thresholds delineating a region of no central tendency among relative prices, possibly due to lack of perfect arbitrage in...
Persistent link: https://www.econbiz.de/10005662194
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Nonlinear aspects of goods-market arbitrage and adjustment : Heckscher's commodity points revisited
Obstfeld, Maurice; Taylor, Alan M. - 1997
Persistent link: https://www.econbiz.de/10000990574