Aizenman, Joshua; Jinjarak, Yothin; Marion, Nancy - In: Open Economies Review 25 (2014) 3, pp. 407-428
Since the onset of the global financial crisis, China and the U.S. have reduced their current-account imbalances as a share of GDP to less than half their pre-crisis levels. For China, the reduction in its current-account surplus post-crisis suggests a structural change. Panel regressions for a...