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|c 5.00 USD
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|z 9781451874211
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Lee, Jaewoo.
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|a Accounting for Global Dispersion of Current Accounts /
|c Jaewoo Lee, Yongsung Chang, Sun-Bin Kim.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2009.
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|a 1 online resource (33 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 We undertake a quantitative analysis of the dispersion of current accounts in an open economy version of incomplete insurance model, incorporating important market frictions in trade and financial flows. Calibrated with conventional parameter values, the stochastic stationary equilibrium of the model with limited borrowing can account for about two-thirds of the global dispersion of current accounts. The easing of financial frictions can explain nearly all changes in the current account dispersion in the past four decades whereas the easing of trade frictions has almost no impact on the current account dispersion.
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|a Mode of access: Internet
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|a Chang, Yongsung.
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|a Kim, Sun-Bin.
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|a IMF Working Papers; Working Paper ;
|v No. 2009/276
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2009/276/001.2009.issue-276-en.xml
|z IMF e-Library
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