Current Account Dynamics : The Role of Real Shocks.

This paper demonstrates how a full-blown optimizing model of the dynamics of the current account can be reduced to a small-scale collection of reduced-form relations capable of implementing a rich set of macro-economic simulations. Emphasizing the role of shocks to productivity, labor employment, wo...

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Співавтор: International Monetary Fund
Формат: Журнал
Мова:English
Опубліковано: Washington, D.C. : International Monetary Fund, 1989.
Серія:IMF Working Papers; Working Paper ; No. 1989/080
Онлайн доступ:Full text available on IMF
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Резюме:This paper demonstrates how a full-blown optimizing model of the dynamics of the current account can be reduced to a small-scale collection of reduced-form relations capable of implementing a rich set of macro-economic simulations. Emphasizing the role of shocks to productivity, labor employment, world rate of interest, and tax revenues the analysis can account for movements in trade imbalances, and the decline in private saving and investment observed recently in developed open economies.
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Фізичний опис:1 online resource (54 pages)
Формат:Mode of access: Internet
ISSN:1018-5941
Доступ:Electronic access restricted to authorized BRAC University faculty, staff and students