Showing 1 - 10 of 29,000
Persistent link: https://www.econbiz.de/10012120981
differ from other current account components, including the trade balance. Both components essentially exhibit a zero …
Persistent link: https://www.econbiz.de/10014515875
The assessment of external positions and exchange rates is a key mandate of the IMF. This paper presents the updated External Balance Assessment (EBA) framework-a key input in the conduct of multilaterally-consistent external sector assessments of 49 advanced and emerging market...
Persistent link: https://www.econbiz.de/10012009957
, an extension of our framework based on monthly data shows that trade balance adjustment is observed less frequently. From …
Persistent link: https://www.econbiz.de/10010483886
is shown that the expected (negative) equilibrium relationship between net foreign assets and the trade balance that had …
Persistent link: https://www.econbiz.de/10010382090
The Target imbalances within the Eurozone can be interpreted as a sign of a missing balance of payments adjustment mechanism for the member countries. As the Eurozone lacks a fiscal union, in economic theory it is more an exchange rate union or a system of fixed exchange rates than a monetary...
Persistent link: https://www.econbiz.de/10009751600
Persistent link: https://www.econbiz.de/10003752115
Persistent link: https://www.econbiz.de/10011791510
Over recent years, several euro area countries have registered large and persistent net foreign liabilities. This paper examines the risks arising from these external stock imbalances, the prospects for their smooth unwinding and the menu of policy options. The paper demonstrates that external...
Persistent link: https://www.econbiz.de/10011732721
fifty-year period 1970-2019 and estimates their risk trade-offs with the aim of informing macrofinancial prudential policies … to gauge the risk of external crisis: debt liabilities are the riskiest component, FDI liabilities are half as risky, and … FDI assets are the most protective. Macroeconomic imbalances increase risk but are usually not the key drivers of crises …
Persistent link: https://www.econbiz.de/10014480077