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IMF Staff papers: Volume 36 No. 1
Author:
International Monetary Fund. Research Dept.
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Series:
IMF Staff Papers
Volume/Issue:
Volume 1989: Issue 001
Language:
English
Publication Date:
01 Jan 1989
DOI:
https://doi.org/10.5089/9781451956825.024
ISBN:
9781451956825
ISSN:
1020-7635
Pages:
288
Keywords:
SP; price of equity; savings rate; traded goods; dependency rate; traded-goods sector; Defense spending; Real exchange rates; Income; Private investment; Demand for money; Asia and Pacific; Southern Europe; Central America; Sub-Saharan Africa; Middle East
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The determinants of current account imbalances under floating exchange rates are analyzed. The analysis provides a framework within which the sources of. and the remedies for, the current account imbalances between the United States, Japan, and the Federal Republic of Germany can be discussed. The effects of various government policies are emphasized, in particular the differences between expenditure-changing and expenditure-switching policies. Short-run and long-run considerations are investigated, as well as the role played by expectations and price-level dynamics.
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Cover IMF Staff Papers
IMF Staff Papers
ISSN:
1020-7635
Publisher:
International Monetary Fund