Current Account Rebalancing and Real Exchange Rate Adjustment Between the U.S. and Emerging Asia

Current Account Rebalancing and Real Exchange Rate Adjustment Between the U.S. and Emerging Asia
A reduction in the U.S. current account deficit vis-à-vis emerging Asia involves a shift in demand from U.S. to emerging Asia tradable goods and a change in international relative prices. This paper quantifies the required adjustment in the terms of trade and real exchange rates in a three-country open economy model of the U.S., China, and other... READ MORE...

Publication date: March 2011
ISBN 9781455218967
$18.00

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