External Adjustment

External Adjustment
Author :
Publisher :
Total Pages : 64
Release :
ISBN-10 : UCSD:31822021212253
ISBN-13 :
Rating : 4/5 ( Downloads)

Book Synopsis External Adjustment by : Maurice Obstfeld

Download or read book External Adjustment written by Maurice Obstfeld and published by . This book was released on 2004 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Gross stocks of foreign assets have increased rapidly relative to national outputs since 1990, and the short-run capital gains and losses on those assets can amount to significant fractions of GDP. These fluctuations in asset values render the national income and product account measure of the current account balance increasingly inadequate as a summary of the change in a country's net foreign assets. Nonetheless, unusually large current account imbalances, especially deficits, should remain high on policymakers' list of concerns, even for the richer and less credit-constrained countries. Extreme imbalances signal the need for large and perhaps abrupt real exchange rate changes in the future, changes that might have undesired political and financial consequences given the incompleteness of domestic and international asset markets. Furthermore, of the two sources of the change in net foreign assets -- the current account and the capital gain on the net foreign asset position -- the former is better understood and more amenable to policy influence. Systematic government attempts to manipulate international asset values in order to change the net foreign asset position could have a destabilizing effect on market expectations"--NBER website


External Adjustment Related Books

External Adjustment
Language: en
Pages: 64
Authors: Maurice Obstfeld
Categories: Balance of trade
Type: BOOK - Published: 2004 - Publisher:

DOWNLOAD EBOOK

"Gross stocks of foreign assets have increased rapidly relative to national outputs since 1990, and the short-run capital gains and losses on those assets can a
The Valuation Channel of External Adjustment
Language: en
Pages: 46
Authors: Mr.Fabio Ghironi
Categories: Business & Economics
Type: BOOK - Published: 2009-12-01 - Publisher: International Monetary Fund

DOWNLOAD EBOOK

International financial integration has greatly increased the scope for changes in a country's net foreign asset position through the valuation channel, namely
Europe and Global Imbalances
Language: en
Pages: 66
Authors: Philip R. Lane
Categories: Business & Economics
Type: BOOK - Published: 2007-06 - Publisher: International Monetary Fund

DOWNLOAD EBOOK

Although Europe in the aggregate is a not a major contributor to global current account imbalances, its trade and financial linkages with the rest of the world
G7 Current Account Imbalances
Language: en
Pages: 518
Authors: Richard H. Clarida
Categories: Business & Economics
Type: BOOK - Published: 2007-11-01 - Publisher: University of Chicago Press

DOWNLOAD EBOOK

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
Dominant Currency Paradigm: A New Model for Small Open Economies
Language: en
Pages: 62
Authors: Camila Casas
Categories: Business & Economics
Type: BOOK - Published: 2017-11-22 - Publisher: International Monetary Fund

DOWNLOAD EBOOK

Most trade is invoiced in very few currencies. Despite this, the Mundell-Fleming benchmark and its variants focus on pricing in the producer’s currency or in