Introduction -- The global economy and external imbalances -- Global imbalances and exchange rates -- External imbalances and national income -- International capital mobility and national income -- External imbalances, exchange rates, and interest rates -- Money, exchange rates, and the balance...

Since a series of crisis events after 2007, the discussion about the adjustment channels of current account imbalances has been revived. We discuss the effectiveness of exchange rates versus macroeconomic policies to rebalance current accounts for a set of 86 mainly emerging market economies. We...

Since a series of crisis events after 2007, the discussion about the adjustment channels of current account imbalances has been revived. We discuss the effectiveness of exchange rates versus macroeconomic policies to rebalance current accounts for a set of 86 mainly emerging market economies. We...