G7 Current Account Imbalances: Sustainability and Adjustment

By Richard Clarida. 2006

261 citations recorded by the source corpus.

Subfields: Finance

View Paper: https://www.semanticscholar.org/paper/a340ef0c306a07553e3e4349ada59c9c179e6d72

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In Finance

1. M. Chinn
2. Shang-jin Wei
3. M. Bussière
4. G. Zucman
5. N. Holinski
6. C. Kool
7. Tarek A. Hassan
8. Rui Mano

Citations in the corpus

• The Missing Wealth of Nations: Are Europe and the U.S. net Debtors or net Creditors? (2013, background): “See Obstfeld and Rogoff (2005), Blanchard, Giavazzi, and Sa (2005), Gourinchas and Rey (2007a), the papers in Clarida (2007), Hausmann and Sturzenegger (2007), Curcuru, Dvorak, and Warnock (2008), and Blanchard and Milesi-Ferretti (2009) among others. by guest on July 6, 2013…”
• Bubbles and Self-Enforcing Debt (2006, unknown): “First, as emphasized in Gourinchas and Rey (2005), net nancial ows between countries are the outcome of gross ows which include instruments with very di¤erent rates of return and risk pro les (debt, equity, direct investment and so on).”
• Forward and Spot Exchange Rates in a Multi-Currency World* (2018, background): “Papers that offer explicit models of either permanent or highly persistent asymmetries in currency risk premia include Martin (2012), Hassan (2013), Maggiori (2017), Richmond (2016), and Ready, Roussanov, and Ward (2017).”
• Optimal Currency Shares in International Reserves: The Impact of the Euro and the Prospects for the Dollar (2006, unknown): “…exchange rates among major industrial countries (Blanchard et al., 2005) and is relevant to the recent debate on the sustainability of the U.S. current account (e.g., Gourinchas and Rey, 2005a,b; Obstfeld and Rogoff, 2005; Dooley, Folkerts-Landau and Garber, 2003, 2005; Roubini and Setser, 2005).”
• A Faith-Based Initiative Meets the Evidence: Does a Flexible Exchange Rate Regime Really Facilitate Current Account Adjustment? (2013, background): “For empirical work on estimating current account adjustment, an excellent set of papers is collected in Clarida (2007), which contains references to the earlier literature.”
• On the International Transmission of Shocks : Micro-Evidence from Mutual Fund Portfolios (2012, unknown): “The dataset has actively and passively managed funds with different investment scopes: global, 9 See, for example, Broner et al. (2006), Gourinchas and Rey (2007a), Hau and Rey (2008), Krugman (2008), Devereux and Yetman (2010), and Gourinchas et al. (2010).”
• A Forensic Analysis of Global Imbalances (2011, unknown): “The degree of openness to international trade appears to be weakly associated with larger current account deficits among developing countries.3 Note that because they include average GDP growth and initial net foreign assets in the regressions, the saving2 See for instance Chinn (2005).”
• Persistent Macroeconomic Imbalances in the Euro Area: Causes and Consequences (2012, background): “The current account of the balance of payments served as a crucial indicator of the sustainability of the fixed exchange rate, while the IMF played an important role in the monitoring of unsustainable balance of payments positions, providing temporary financial support and assisting in orderly…”
• Valuation Effects and the Dynamics of Net External Assets (2009, unknown): “15Equation (23) describes the expected behaviour of d V AL(3) t conditional on information at time t − 1.”
• A Model of the International Monetary System (2018, unknown): “…U.S. external debt at 158% of its GDP, 85% of which is denominated in dollars, raises the possibility of a Triffin-like event.17 Most prominently, Obstfeld and Rogoff (2001, 2007) have argued that the U.S. current account would one day have to reverse and that this would come with a 30%…”