Accounting for Global Dispersion of Current Accounts
Object category:
Elektronische Ressource
Person/Institution:
Publisher:
International Monetary Fund
Ort:
Washington, D.C
Date:
2009
Language:
Englisch
Additional information
Abstract:
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
Object text:
Lee, Jaewoo
Online-Ausg.
Online-Ausg.
Access and usage options
Administrative details
Created:
2023-04-12
Last changed:
2023-01-26
Added to portal:
2023-04-12
Feedback
Our data sets are in constant development. If you have additional information about this object or discovered an error, please write to us. Information on privacy policy