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01792cas a2200241 a 4500 |
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|c 5.00 USD
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|z 9781451921144
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a International Monetary Fund.
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|a Net Foreign Assets and International Adjustment in the United States, Japan and the Federal Republic of Germany.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1989.
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|a 1 online resource (60 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 U.S., 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, the adjustment mechanisms sustaining that equilibrium? An analysis of postwar data produces two insights. First, using a cointegration approach, the existence of long-run net foreign asset equilibrium can be identified; in each of the G-3 countries, it is a function of demographic variables and public debt. Second, deviations from the long-run equilibrium give rise to disequilibrium feedback through domestic absorption and through other channels.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 1989/022
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1989/022/001.1989.issue-022-en.xml
|z IMF e-Library
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