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150128 ||| eng |
020 |
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|a 9781451847123
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100 |
1 |
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|a Lane, Philip
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245 |
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|a External Wealth, the Trade Balance, and the Real Exchange Rate
|c Philip Lane, Gian Milesi-Ferretti
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260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2002
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300 |
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|a 35 pages
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651 |
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4 |
|a United States
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653 |
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|a Economic policy
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653 |
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|a Government and the Monetary System
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653 |
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|a Payment Systems
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653 |
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|a Investments, Foreign
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653 |
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|a Balance of trade
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653 |
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|a Terms of trade
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653 |
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|a Regimes
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653 |
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|a Monetary economics
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653 |
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|a Trade balance
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653 |
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|a Long-term Capital Movements
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653 |
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|a Currency
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653 |
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|a Exports and Imports
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653 |
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|a International economics
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653 |
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|a Foreign assets
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653 |
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|a Foreign Exchange
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653 |
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|a Standards
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653 |
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|a Monetary Systems
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653 |
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|a Real exchange rates
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653 |
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|a Foreign exchange market
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653 |
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|a Empirical Studies of Trade
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653 |
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|a Foreign currency exposure
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653 |
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|a Money and Monetary Policy
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653 |
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|a Foreign exchange
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653 |
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|a Nternational cooperation
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653 |
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|a International Investment
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700 |
1 |
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|a Milesi-Ferretti, Gian
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041 |
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7 |
|a eng
|2 ISO 639-2
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989 |
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|b IMF
|a International Monetary Fund
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490 |
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|a IMF Working Papers
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028 |
5 |
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|a 10.5089/9781451847123.001
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856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/2002/051/001.2002.issue-051-en.xml?cid=15692-com-dsp-marc
|x Verlag
|3 Volltext
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|a 330
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520 |
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|a This paper examines the link between the net foreign asset position, the trade balance and the real exchange rate. In particular, it decomposes the impact of a country's net foreign asset position ("external wealth") on its long-run real exchange rate into two mechanisms: the relation between external wealth and the trade balance; and, holding other determinants fixed, a relation between the trade balance and the real exchange rate. It also provides additional evidence that the relative price of nontradables is an important channel linking the trade balance and the real exchange rate
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