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Sustainability of the Macedonian current account
Unevska, Danica; Jovanovic, Branimir - Narodna Banka na Republika Makedonija; Narodna Banka na … - 2011
Most of the emerging European countries, including Republic of Macedonia, are faced with greater or smaller current … account deficits, which raise the concern about their sustainability in the long run. This working paper examines the … sustainability of the Macedonian current account deficit using the structural model of the current account. According to this model …
Persistent link: https://www.econbiz.de/10011623376
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Sustainability of the Macedonian Current Account
Unevska, Danica; Jovanovic, Branimir - 2011
Most of the emerging European countries, including Republic of Macedonia, are faced with greater or smaller current … account deficits, which raise the concern about their sustainability in the long run. This working paper examines the … sustainability of the Macedonian current account deficit using the structural model of the current account. According to this model …
Persistent link: https://www.econbiz.de/10011785349
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Sustainability of the Macedonian Current Account
Unevska Andonova, Danica; Jovanovic, Branimir - Narodna Banka na Republika Makedonija - 2011
Most of the emerging European countries, including Republic of Macedonia, are faced with greater or smaller current … account deficits, which raise the concern about their sustainability in the long run. This working paper examines the … sustainability of the Macedonian current account deficit using the structural model of the current account. According to this model …
Persistent link: https://www.econbiz.de/10010740199
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The Sustainability of the US Current Account Deficit (La sostenibilidad del déficit exterior de Estados Unidos)
Fernandez, Enric - 2007
sustainability. If this adjustment takes place gradually (say in 5-7 years), the dollar would have to depreciate by less than 10% in …
Persistent link: https://www.econbiz.de/10012728963
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Current account and real exchange rate changes : The impact of trade openness
Romelli, Davide - 2018
In the transfer problem debate with Keynes, Ohlin suggests that income effects should lessen relative price variations necessary to produce trade surpluses, and that that impact is related to the degree of openness of the economy. We illustrate this mechanism in a simple model, and take it to...
Persistent link: https://www.econbiz.de/10012937961
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United States Current Account Deficits : A Stochastic Optimal Control Analysis
Stein, Jerome L. - 2021
The Pessimists and the Optimists disagree whether the US external deficits and the associated buildup of US net foreign liabilities are problems that require urgent attention. A warning signal should be that the debt ratio deviates significantly from the optimal ratio. The optimal debt ratio or...
Persistent link: https://www.econbiz.de/10013317398
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Fiscal Policy and Macroeconomic Imbalances
Baldacci, Emanuele; Gupta, Sanjeev; Mulas-Granados, Carlos - Banca d'Italia - 2014
The volume collects the essays presented at the 15th Workshop on Public Finance organised by Banca d'Italia in Perugia from 4 to 6 April 2013. The workshop focused on the link between fiscal policy and macroeconomic imbalances and comprised four sessions. The first session concentrated on the...
Persistent link: https://www.econbiz.de/10011277938
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The Debt-adjusted Real Exchange Rate for China
Frait, Jan; Komárek, Luboš - Department of Economics, University of Warwick - 2008
The paper aims to enrich the debate on the overvaluation/undervaluation of China yuan Renminbi (CNY) against USD and JPY by applying the concept of the Debt-Adjusted Real Exchange Rate (DARER). This approach is offering to monetary policy makers another indicator for more responsive management...
Persistent link: https://www.econbiz.de/10005146926
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How Long Can the Unsustainable U.S. Current Account Deficit Be Sustained?
Bertaut, Carol C.; Kamin, Steven B.; Thomas, Charles P. - 2009
This paper addresses three questions about the prospects for the U.S. current account deficit. Is it sustainable in the long term? If not, how long will it take for measures of external debt and debt service to reach levels that could prompt some pullback by global investors? And if and when...
Persistent link: https://www.econbiz.de/10014216704
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Defaultable Debt, Interest Rates, and the Current Account
Aguiar, Mark; Gopinath, Gita - 2008
World capital markets have experienced large-scale sovereign defaults on a number of occasions, the most recent being Argentina's default in 2002. In this paper, we develop a quantitative model of debt and default in a small open economy. We use this model to match four empirical regularities...
Persistent link: https://www.econbiz.de/10014028493