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Accounting for Global Dispersion of Current Accounts.
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 mode...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Otros Autores: | , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington :
International Monetary Fund,
2009.
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| Colección: | IMF Working Papers.
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| Temas: | |
| Acceso en línea: | Texto completo |
Tabla de Contenidos:
- Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Global Dispersion of Current Accounts; 1. Current Account to GDP; 1. Distributions of Current Account, Net Foreign Asset, and Trade Balance; 2. Net Foreign Asset to GDP; 3. Trade Balance to GDP; III. Theory; A. Motivation; B. Model; IV. Quantitative Analysis; A. Calibration; 2. Parameters of the Benchmark Model Economy; B. Benchmark Economy; 4. Stationary Distribution of Benchmark Economy; 5. Stationary Distribution of Benchmark Economy; 3. Standard Deviations of Current Account, Net Foreign Asset, and Trade Balance.
- C. Economies under Greater Frictions6. Model Comparison: Current Account/GDP; D. Comparing Stylized Facts among Model Economies; 4. Persistence of Current Account, Net Foreign Asset, and Trade Balance; 5. Distribution of Current Account; E. Discussion; V. Conclusion; A. National Incomes; B. Current Accounts; References; Footnotes.