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Working paper
Global Imbalances and Financial Stability
In: Global economic review, Band 41, Heft 4, S. 293-297
ISSN: 1744-3873
Multipolar governance and global imbalances
In: International affairs, Band 86, Heft 3, S. 681-692
ISSN: 0020-5850
World Affairs Online
Monetary Policy and Global Imbalances
In: National Institute economic review: journal of the National Institute of Economic and Social Research, Band 199, S. 34-39
ISSN: 1741-3036
The US current account imbalance has stayed stubbornly high despite the fall in the dollar that we have seen since the beginning of 2003. The exchange rate has fallen by around 15 per cent on average, mainly between the first quarter of 2003 and the first quarter of 2005. As we can see from figure 1, the fall has come in three steps, and each time it fell we might have expected an initial worsening of the current account for a year or so as prices change in advance of quantities (the J curve effect of the first year textbook). Hence we might have expected no sustained improvement until at least a year after the last downward step towards the end of 2004. However, as we can see from figure 2, there is no noticeable improvement in the current account during 2006, suggesting that domestic absorption was rising. At the same time inflation in the US was gradually drifting up under pressure from the weakening exchange rate.
An OLG model of global imbalances
In: Journal of international economics, Band 95, Heft 1, S. 83-97
ISSN: 0022-1996
Global Imbalances: A Gathering Storm
In: PSL Quarterly Review, Band 63, Heft 252, S. 5-36
SSRN
SSRN
Working paper
Multipolar governance and global imbalances
In: International affairs, Band 86, Heft 3, S. 681-692
ISSN: 1468-2346
Global Imbalances in the World Economy
In: Voprosy ėkonomiki: ordena trudovogo krasnogo znameni ežemesjačnyj žurnal ; Vserossijskoe ėkonomičeskoe izdanie = Issues of economics, Heft 5, S. 51-61
ISSN: 0042-8736
Global Imbalances and Financial Stability
In: IMF Working Papers, S. 1-20
SSRN
Global imbalances and financial stability
In: Journal of policy modeling: JPMOD ; a social science forum of world issues, Band 29, Heft 5, S. 783
ISSN: 0161-8938
Global Imbalances and Fund Surveillance
In: Comparative economic studies, Band 48, Heft 3, S. 391-407
ISSN: 1478-3320
Global imbalances and Asian economies
In: JBICI review, Heft 14, S. 1-37
ISSN: 1347-5681
World Affairs Online