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The Current Account Income Balance : External Adjustment Channel or Vulnerability Amplifier?
Behar, Alberto; Hassan, Ramin - 2022
In terms of size, the net income balance (IB) is comparable to the trade balance (TB) for many countries. Yet the role of the IB in mitigating external vulnerabilities or complicating external adjustment remains underexplored. This paper studies the role of the IB in stabilizing or destabilizing...
Persistent link: https://www.econbiz.de/10014082657
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Impact of services trade on India's economic growth and current account balance : evidence from post-reform period
Thomas, Mini P. - 2016
Economic Growth and External Stabilisation (defined in terms of Current Account Balance as a percentage of GDP) is a top priority for policy-makers, while laying out the macroeconomic framework for Indian economy. Government of India had targeted for an average GDP growth rate of 9 percent and a...
Persistent link: https://www.econbiz.de/10011446274
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What do we really know about the transatlantic current account?
Braml, Martin T.; Felbermayr, Gabriel - 2019
Do the U.S. have a current account surplus or a deficit with the EU? Since 2009, official sources disagree: The U.S. Department of Commerce claims a consistent U.S. surplus while Eurostat reports the opposite. International transactions are notoriously difficult to measure accurately, but the...
Persistent link: https://www.econbiz.de/10012051883
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What do we really know about the transatlantic current account?
Braml, Martin T.; Felbermayr, Gabriel - 2019
Do the U.S. have a current account surplus or a deficit with the EU? Since 2009, official sources disagree: The U.S. Department of Commerce claims a consistent U.S. surplus while Eurostat reports the opposite. International transactions are notoriously difficult to measure accurately, but the...
Persistent link: https://www.econbiz.de/10012065058
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Target balances and the German financial account in light of the European balance-of-payments crisis
Sinn, Hans-Werner; Wollmershäuser, Timo - 2012
As shown in Sinn and Wollmershäuser (2012a), during the European balance-of-payments crisis, inter-governmental credit and Target credit granted by core-country central banks have replaced private international capital flows in financing the crisis countries' current account deficits, and even...
Persistent link: https://www.econbiz.de/10009689403
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International gross capital flows : a new measure and application to a global panel
Janus, Thorsten; Riera-Crichton, Daniel - 2009
This paper presents a new measure of international gross capital flows and applies it to a global panel from 1970 to 2004. We explain why paying attention to the gross flows underlying net capital flows may be important and how our gross flow measure differs from the standard measure in the...
Persistent link: https://www.econbiz.de/10003854757
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Asset price changes, external wealth and global welfare
Meyer, Timothy Andreas - 2024
U.S. equity outperformance and sustained dollar appreciation have led to large valuation gains for the rest of the world on the U.S. external position. The author constructs their global distribution, carefully accounting for the role of tax havens. Valuation gains are concentrated and large in...
Persistent link: https://www.econbiz.de/10014500929
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Current Account Uncertainty and Currency Premia
Institute for Monetary and Financial Research, Hong Kong - 2023
This working paper is written by Pasquale Della Corte (Imperial College London) and Aleksejs Krecetovs (Imperial College London).We empirically study the relationship between currency excess returns and current account uncertainty, measured as forecast dispersion. We find that investment...
Persistent link: https://www.econbiz.de/10014255022
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Credit growth and current account balance
Çelgin, Aysu; Eren, Okan; Özlü, Pınar - In: Central Bank review / Central Bank of the Republic of Turkey 23 (2023) 3, pp. 1-10
In this paper, we investigate the relationship between different loan types and the current account balance along with its sub-components. Our empirical results suggest that a rise in total loans inevitably leads to a deterioration in the current account balance. This relationship is preserved...
Persistent link: https://www.econbiz.de/10014479708
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Capital flight: China's experience
Cheung, Yin-Wong; Qian, Xingwang - 2010
We study the empirical determinants of China's capital flight. In addition to the covered interest differential, our … regression exercise shows that China's capital flight is quite well explained by its own history and covered interest … differentials. The other possible determinants offer relatively small additional explanatory power. It is also found that China …
Persistent link: https://www.econbiz.de/10003937044