Credit Cycles, Fiscal Policy, and Global Imbalances /
We study the role that changes in credit and fiscal positions play in explaining current account fluctuations. Empirically, the current account declines when credit increases, and when the fiscal balance declines. We use a two-country model with financial frictions and fiscal policy to study these f...
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| 格式: | 雜誌 |
| 語言: | English |
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Washington, D.C. :
International Monetary Fund,
2021.
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| 叢編: | IMF Working Papers; Working Paper ;
No. 2021/043 |
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| 在線閱讀: | Full text available on IMF |