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During the 2011-2015 period, Turkey's current account deficit as a percentage of GDP was one of the largest among the OECD countries. In this paper, we examine if this deficit can be considered sustainable using the Engel and Rogers (2006) approach. In this framework, the current account of a...
Persistent link: https://www.econbiz.de/10011609959
of welfare and economic growth. Based on our analysis, we recommend a number of concrete policy directions to help Asia … rebalance its demand and growth toward domestic sources. …
Persistent link: https://www.econbiz.de/10003832220
of welfare and economic growth. Based on our analysis, we recommend a number of concrete policy directions to help Asia … rebalance its demand and growth toward domestic sources. …
Persistent link: https://www.econbiz.de/10010507261
This study examines the relationship between current-account imbalances and economic growth during the 2008 … estimates. Statistical data are used, including the average of the GDP growth rate in the years prior to the crisis (2003 - 2007 …), the average of the GDP growth rate for 2008 and 2009, current account as a percentage of GDP, and the level of average …
Persistent link: https://www.econbiz.de/10010406280
The paper tests whether the increasing current account deficit has negative impact on American economy and society. Using data for American economy in years 1967-2005, it will be shown that perceived welfare effects, as measured by levels of Consumer Confidence, asymmetrically reflect volatility...
Persistent link: https://www.econbiz.de/10013100763
We propose a multi-country dynamic general equilibrium model to quantify the implications of trade and FDI liberalizations for the surge of global trade and current account (CA) imbalances. We calibrate our model to replicate the evolution of bilateral trade and FDI flows across 5 major...
Persistent link: https://www.econbiz.de/10012840844
This paper examines the dynamics of current account imbalances in Pakistan. Following the small open economy general equilibrium model of Obstfeld and Rogoff (2005), and adding few variations in model, we investigate the impact of external shocks induced changes in current account on the real...
Persistent link: https://www.econbiz.de/10012924515
of welfare and economic growth. Based on our analysis, we recommend a number of concrete policy directions to help Asia … rebalance its demand and growth toward domestic sources …
Persistent link: https://www.econbiz.de/10013143295
of welfare and economic growth. Based on our analysis, we recommend a number of concrete policy directions to help Asia … rebalance its demand and growth toward domestic sources. …
Persistent link: https://www.econbiz.de/10008475728
growth rate of GDP, nominal interest rate, nominal and real exchanges rates and the rate of inflation. The computational … simulation of the theoretical model shows that the monetary policy rules are relevant only to the determination of growth rate of …-neutral in the long-run. In this setting we argue that a monetary policy that induces growth must seek to minimize the volatility …
Persistent link: https://www.econbiz.de/10005526979