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Exogeneity tests for the Chinese and U.S. external balance : empirical evidence of the connection and the subprime crisis
Lima Júnior, Luiz Antônio; Vasconcelos, Claudio … - In: Economia : revista da ANPEC 15 (2014) 3, pp. 307-326
This paper studies the global imbalances that occurred in the first years of the twenty-first century. The analysis encompasses the two biggest countries in the world: the U.S.A. and China. Many authors defend the assertion that the relationship between the current accounts of these two...
Persistent link: https://www.econbiz.de/10011865319
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Türkiye'nin Cari Açık Sorunu ve Soruna Çözüm Noktasında Yeni Yatırım Teşvik Sisteminin Değerlendirilmesi (Turkey's Current Account Deficit Problem and Evaluation of the New Investm...
Aras, Osman Nuri - 2012
Makro ekonomik göstergelerde 2002 yılından itibaren yaşanan olumlu gelişmelere rağmen, aynı yıldan itibaren Türkiye'de cari açık temel makroekonomik sorun olarak 2012 yılına kadar önemini artırarak devam etmiştir. Türkiye'nin cari açığı azaltarak yönetilebilir bir düzeye...
Persistent link: https://www.econbiz.de/10013096087
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Saving Behaviour and Global Imbalances : The Role of Emerging Market Economies
Ferrucci, Gianluigi; Miralles-Cabrera, César - 2021
In recent years there has been considerable variation in savings patterns across countries and regions, with implications for the configuration of global current account balances, asset valuations and real interest rates. This paper looks at the empirical drivers behind these trends. It uses a...
Persistent link: https://www.econbiz.de/10013316672
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A Growth Model of Global Imbalances
Artige, Lionel; Cavenaile, Laurent - 2012
Recent empirical evidence shows that gross official capital transactions flow upstream in the international financial … accumulating foreign reserves. We argue that government intervention in the capital market has led to forced saving in these …
Persistent link: https://www.econbiz.de/10014040358
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Capital liberalization and the US external imbalance
Prades, Elvira; Rabitsch, Katrin - 2009
paper argues that the process of capital liberalization can explain a substantial fraction of the US net external … liabilities. We present a simple two-country model with an internationally traded bond, in which capital controls are reflected in … on capital outflows and/or a tightening in the RoW's borrowing constraint enables the US economy to better insure against …
Persistent link: https://www.econbiz.de/10010322494
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Bilateral imbalances in Europe
Berger, Helge; Nitsch, Volker - 2012
This paper examines the association between trade and financial linkages among European countries. We find that, with the introduction of the euro, trade imbalances among euro area members widened considerably, even after allowing for permanent asymmetries in trade competitiveness within pairs...
Persistent link: https://www.econbiz.de/10010323739
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Trade imbalances and multilateral trade cooperation
Marchetti, Juan; Ruta, Michele; Teh, Robert - 2012
Rising current account and merchandise trade imbalances marked the years before the global financial and economic crisis. These imbalances either contributed to or precipitated the crisis and to the extent that they create systemic risks, it is desirable that they be reduced. There are many...
Persistent link: https://www.econbiz.de/10010326809
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Current Account Imbalances and Structural Adjustment in the Euro Area: How to Rebalance Competitiveness
Zemanek, Holger; Belke, Ansgar; Schnabl, Gunther - 2009
Low international competitiveness of a set of euro area countries, which have become evident by large current account deficits and rising risk premiums on government bonds, is one of the most challenging economic policy issues for Europe. We analyse the role of private restructuring and public...
Persistent link: https://www.econbiz.de/10010331421
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Determinants of Global and Intra-European Imbalances
Schnabl, Gunther; Freitag, Stephan - 2012
The paper discusses global current account imbalances in the context of an asymmetric world monetary system and asymmetric current account developments. It identifies the US and Germany as center countries with rising / high current account deficits (US) and surpluses (Germany). These are...
Persistent link: https://www.econbiz.de/10010334477
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Abbau globaler Handelsungleichgewichte: muss China aufwerten?
Belke, Ansgar; Dreger, Christian; Erber, Georg - In: DIW Wochenbericht 77 (2010) 40, pp. 2-8
Die zunehmenden Handelsbilanzüberschüsse Chinas gegenüber den USA haben eine Diskussion darüber ausgelöst, ob der Yuan gegenüber dem US-Dollar fundamental unterbewertet sei. Der Forderung, die heimische Währung deutlich aufzuwerten, hat sich China bisher widersetzt. Das schafft gerade...
Persistent link: https://www.econbiz.de/10011602239