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Are There Thresholds of Current Account Adjustment in the G7?

Richard H. Clarida, Manuela Goretti, and Mark P. Taylor

in G7 Current Account Imbalances: Sustainability and Adjustment

Published in print:
2007
Published Online:
February 2013
ISBN:
9780226107264
eISBN:
9780226107288
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226107288.003.0006
Subject:
Economics and Finance, Financial Economics

This chapter addresses the nonlinear models of current account adjustment for the G7 countries. For most of the G7 countries, significant evidence of threshold effects in current account adjustment ... More


Current Account Deficits in Industrial Countries: The Bigger They Are, the Harder They Fall?

Caroline Freund and Frank Warnock

in G7 Current Account Imbalances: Sustainability and Adjustment

Published in print:
2007
Published Online:
February 2013
ISBN:
9780226107264
eISBN:
9780226107288
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226107288.003.0005
Subject:
Economics and Finance, Financial Economics

This chapter investigates the episodes of current account adjustment in industrial countries. The data support the claims that the size of the current account deficit and the extent to which it is ... More


The Unsustainable U.S. Current Account Position Revisited

Maurice Obstfeld and Kenneth Rogoff

in G7 Current Account Imbalances: Sustainability and Adjustment

Published in print:
2007
Published Online:
February 2013
ISBN:
9780226107264
eISBN:
9780226107288
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226107288.003.0010
Subject:
Economics and Finance, Financial Economics

This chapter reveals that when one takes into account the global equilibrium ramifications of an unwinding of the U.S. current account deficit, currently running at nearly 6 percent of gross domestic ... More


Smooth Landing or Crash?: Model-Based Scenarios of Global Current Account Rebalancing

Hamid Faruqee, Douglas Laxton, Dirk Muir, and Paolo A. Pesenti

in G7 Current Account Imbalances: Sustainability and Adjustment

Published in print:
2007
Published Online:
February 2013
ISBN:
9780226107264
eISBN:
9780226107288
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226107288.003.0011
Subject:
Economics and Finance, Financial Economics

This chapter employs a sophisticated new open economy multicountry simulation model to examine different scenarios for global current account adjustment. The analysis indicates that ... More


G7 Current Account Imbalances: Sustainability and Adjustment

Richard H. Clarida (ed.)

Published in print:
2007
Published Online:
February 2013
ISBN:
9780226107264
eISBN:
9780226107288
Item type:
book
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226107288.001.0001
Subject:
Economics and Finance, Financial Economics

The current account deficit of the United States is more than six percent of its gross domestic product—an all-time high. And the rest of the world, including other G7 countries such as Japan and ... More


Managing Flexibility: 1971–90

Shinji Takagi

in Conquering the Fear of Freedom: Japanese Exchange Rate Policy since 1945

Published in print:
2015
Published Online:
May 2015
ISBN:
9780198714651
eISBN:
9780191782893
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198714651.003.0004
Subject:
Economics and Finance, Financial Economics, Macro- and Monetary Economics

Chapter 4 reviews how Japanese authorities managed the flexible exchange rate for the yen in response to external and domestic developments. In particular, the chapter discusses policy actions taken ... More


Competitiveness, external imbalances, and economic linkages in the euro area

Stéphane Dées

in The GVAR Handbook: Structure and Applications of a Macro Model of the Global Economy for Policy Analysis

Published in print:
2013
Published Online:
May 2013
ISBN:
9780199670086
eISBN:
9780191749469
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199670086.003.0015
Subject:
Economics and Finance, Macro- and Monetary Economics

Euro area countries have witnessed significant differences in developments in international price-cost competitiveness since the launch of the euro. Also as a result of it, external accounts have ... More


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