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What Drives US Foreign Borrowing? Evidence on External Adjustment to Transitory and Permanent Shocks
Corsetti, Giancarlo; Konstantinou, Panagiotis T - C.E.P.R. Discussion Papers - 2009
The joint dynamics of US net output, consumption, and (valuation-adjusted) foreign assets and liabilities …. While US consumption is virtually insulated from transitory shocks, these contribute considerably to the variation in net … shock – naturally interpreted as a productivity shock – raises consumption swiftly while causing net output to adjust only …
Persistent link: https://www.econbiz.de/10005791336
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Saving, Investment, and Current Account Surplus in Developing Asia
Park, Donghyun; Shin, Kwanho - Economics and Research Department, Asian Development Bank - 2009
promoting consumption rather than investment. …
Persistent link: https://www.econbiz.de/10008487557
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Is poor household saving the cause of New Zealand's high current account deficit?
Le, Trinh Van Thi; Wilkinson, Bryce - New Zealand Institute of Economic Research - 2008
The current account deficit in the balance of payments has frequently surfaced in public policy debate, with many commentators asserting that low household saving is a major cause of these deficits. Yet, in standard macroeconomic theory, both the current account balance and household saving are...
Persistent link: https://www.econbiz.de/10010895284
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Normas de cuenta corriente y tasa de cambio real de equilibrio en Colombia
Arteaga, Carolina; Luna, Roderick; Ojeda-Joya, Jair - BANCO DE LA REPÚBLICA - 2011
En este artículo estudiamos la estimación de un nivel de equilibrio de la cuenta corriente de la balanza de pagos de Colombia y sus posibles implicaciones para el desalineamiento de la tasa de cambio real. Se siguen dos metodologías alternativas para la estimación. Primero, se realiza una...
Persistent link: https://www.econbiz.de/10009371397
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Are proposed African monetary unions optimal currency areas? : real, monetary and fiscal policy convergence analysis
Asongu, Simplice - In: African journal of economic and management studies : AJEMS 5 (2014) 1, pp. 9-29
Persistent link: https://www.econbiz.de/10010376509
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Darkest before the dawn? : economic analysis and outlook for Central, East and Southeast Europe : forecast report
Grieveson, Richard; Pindyuk, Olga; Astrov, Vasily; … - Wiener Institut für Internationale Wirtschaftsvergleiche - 2021
Persistent link: https://www.econbiz.de/10012508860
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A Strategy for EMU Enlargement
DABROWSKI, Marek - CASE-Center for Social and Economic Research - 2005
-called real convergence accompanies nominal convergence, and that there is synergy rather than a trade-off between the two. The … incumbents should replace their 'don't rush' advice by active encouragement of NMS to proceed with fast nominal convergence in …
Persistent link: https://www.econbiz.de/10008633021
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Adopting the euro in Hungary: expected costs, benefits and timing
Csajbók, Attila; Csermely, Ágnes - Magyar Nemzeti Bank (MNB) - 2002
Accession to the Economic and Monetary Union is one of the most important steps in Hungary's European integration, which will entail abandoning the national currency and adopting the euro as domestic legal tender. For Hungary as a new member state in the EU, introduction of the euro will not be...
Persistent link: https://www.econbiz.de/10005562370
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Ricardian Equivalence, Twin Deficits, and the Feldstein-Horioka Puzzle in Egypt
Marinheiro, Carlos Fonseca - 2008
Egypt has presented important budget imbalances. This paper tries to evaluate whether Egypt's public deficit has had any impact on current account imbalances, examining the validity of the twin deficit hypothesis for Egypt. We conclude for the presence of a (weak) long-run relationship between...
Persistent link: https://www.econbiz.de/10012726335