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

By Hamid Faruqee, D. Laxton, Dirk Muir, Paolo A. Pesenti. 2005

148 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/0b3844880e5186c4985ef30734dcc2ec87d53db8

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Citations in the corpus

Financial Integration, Financial Development, and Global Imbalances (2009, background): “Because there is no aggregate uncertainty, the price of one unit of consumption goods contingent on the realization of isst 1 , where is the equilibrium interest rate.i i iq (s , s ) p g(s , s )/(1 r ) rt t t 1 t t 1 t t Define as the end-of-period net worth before consumption.”
Fiscal consolidation in the euro area: long-run benefits and short-run costs (2008, unknown): “Our specification of the link between debt imbalances and the net foreign asset position follows Faruqee et al. (2007). If the targeted debt ratio is lowered, the risk premium encountered by domestic investors will fall, leading to an increase in the net acquisition of foreign assets.”
A Framework for Assessing Global Imbalances (2008, unknown): “…a rise in government spending implies a domestic demand multiplier larger than one, and a direct link between government debt and net foreign asset positions, such as for example the IMF’s GEM, predict a much stronger impact of fi scal defi cits on the trade balance (see Faruqee et al, 2006a).”
Global Current Account Imbalances: American Fiscal Policy versus East Asian Savings (2008, unknown): “50 cents on the dollar (Faruqee, et al., 2005).”
Equilibrium Exchange Rates: Assessment Methodologies (2007, methodology): “37 See, for example, Faruqee (2004) and Faruqee et al. (2005), who analyze the issue of global current account rebalancing through applications of 3- and 4-region versions of the IMF’s Global Economic Model (GEM). 38 Thus, Faruqee (2004) assumes that the shocks that gave rise to the pattern of exter”
Structural Reforms and Macroeconomic Performance in the Euro Area Countries: A Model-Based Assessment (2011, background): “As for international trade, the excess supply of German services induces a depreciation of the (multilateral) real exchange rate and a deterioration of the (multilateral) terms of trade, as the relative price of nontradables becomes lower.(17) In the case of a 15 percentage points markup (2008).”