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|c 5.00 USD
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|z 9781451979244
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Horne, Jocelyn.
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|a Net Foreign Assets and International Adjustment :
|b The United States, Japan, and Germany /
|c Jocelyn Horne, Paul Masson, Jeroen Kremers.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1993.
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|a 1 online resource (26 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper examines external adjustment in the United States, Japan and Germany from the perspective of net foreign asset positions. It asks two questions: What are, in the long run, the determinants of net foreign asset equilibrium? and: What are, in the short run, some of the adjustment mechanisms sustaining that equilibrium? An analysis of post-war data produces two insights. First, using a cointegration approach, the existence of long-run net foreign asset equilibrium can be identified: it is a function of demographic variables and public debt. Second, deviations from long-run equilibrium give rise to feedback through different components of domestic absorption in the three countries.
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|a Mode of access: Internet
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|a Kremers, Jeroen.
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|a Masson, Paul.
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|a IMF Working Papers; Working Paper ;
|v No. 1993/033
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1993/033/001.1993.issue-033-en.xml
|z IMF e-Library
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