This essay considers the underpinnings of the large US current account deficit. It then
tackles the question of whether the US current account deficit is sustainable. A current …

We develop a two‐country, optimising, sticky prices and sticky wages model of real
exchange rate determination in the new open macroeconomics tradition to analyse the …

This paper explores the ability of portfolio and foreign direct investment flows to track
movements in the euro and the yen against the dollar. Net portfolio flows from the euro area …

This paper provides new evidence on macroeconomic policies and results in Latin America
and the Caribbean. Results are:(i) credibility allows adoption of counter-cyclical …

A Guide to International Monetary Economics is a systematic overview of exchange rate
theories, an analysis of exchange rate systems and a discussion of exchange rate policies …

Based on a version of the IMF's global economy model set up to analyse macroeconomic
interdependence between the United States and the rest of the world, this paper asks to …

El objetivo principal del presente artículo es estimar la trayectoria del tipo de cambio real de
equilibrio para Chile utilizando un modelo de comportamiento para el periodo 1977. I-2003 …

This paper brings together the literature on determination of home bias in equity holdings
and the portfolio balance model of exchange rates to consider whether the dollar might be …

Analyzing inbound and outbound foreign direct investment (FDI) between the US and seven
developed countries over the period from 1994 to 2004, this study provides strong evidence …

This paper studies the Balassa–Samuelson effects in two areas with strong differences in
economic development, sixteen OECD countries and sixteen Latin American economies …