Showing 181 - 190 of 102,127
In recent years China has experienced two forms of extreme macroeconomic imbalance: an expenditure imbalance in the sense of very high investment and very low consumption, giving rise to rapid capital accumulation; and an imbalance between expenditure and production, producing external...
Persistent link: https://www.econbiz.de/10013123488
This paper examines the statistical nature of the persistency of current account balances and its determinants. With the assumption that stationary current account series ensures the long-run budget constraint while countries may experience 'local non-stationarity' in current account balances,...
Persistent link: https://www.econbiz.de/10013096404
This paper examines the impact of sectorial reforms on current account imbalances, with a special focus on the People's Republic of China (PRC). In particular, we investigate to what extent reforms pertaining to the financial sector, social protection, and healthcare may contribute to a...
Persistent link: https://www.econbiz.de/10013098393
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
In the mid-1980s Australia' Current Account Deficit (CAD) as a ratio of GDP reached 5 percent, that is double the historic average. Policymakers regarded this high CAD and the associated foreign debt was unsustainable and advocated the use of all policy levers to rein in the high CAD. Activist...
Persistent link: https://www.econbiz.de/10013104389
This paper presents a taxonomy of major macro-economic determinants of Australia's current account deficit during the operation of the crawling and floating exchange rate regimes during the decade 1977-1986. The econometric analysis of the impacts of external and internal shocks provide...
Persistent link: https://www.econbiz.de/10013104565
This paper studies current account reversals in industrial countries across different exchange rate regimes. There are two major findings which have important implications for industrial economies with external imbalances: first, triggers of current account reversals differ between exchange rate...
Persistent link: https://www.econbiz.de/10013082531
The permanent income hypothesis implies that frictionless open economies with exhaustible natural resources should save abroad most of their resource windfalls and, therefore, feature current account surpluses. Resource-rich developing countries (RRDCs), on the other hand, face substantial...
Persistent link: https://www.econbiz.de/10013082925
We use a quantitative equilibrium model with houses, collateralized debt, and foreign borrowing to study the impact of global imbalances on the U.S. economy in the 2000s. Our results suggest that the dynamics of foreign capital flows account for between one-fourth and one-third of the increase...
Persistent link: https://www.econbiz.de/10013074008
Our objective is to study the dynamic effects of an oil price shock on economic key variables and on the current account of a small open economy. To do this, we introduce time non-separable preferences in a standard model of a small open economy, where labor supply is endogenous and imported oil...
Persistent link: https://www.econbiz.de/10013159155