Debt Dynamics and Global Imbalances : Some Conventional Views Reconsidered

Some Conventional Views Reconsidered

Debt Dynamics and Global Imbalances : Some Conventional Views Reconsidered
We use a general-equilibrium model to explain the rise in global trade and payments imbalances since the mid-1990s, and then to construct adjustment paths to a steady state. Assuming that the shocks giving rise to the imbalances do not suddenly reverse, simulated movements in the U.S. trade deficit and exchange rate are smaller and more gradual READ MORE...

Publication date: January 2007
ISBN 9781451865684
$18.00

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