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150128 ||| eng |
020 |
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|a 9781451874211
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100 |
1 |
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|a Lee, Jaewoo
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245 |
0 |
0 |
|a Accounting for Global Dispersion of Current Accounts
|c Jaewoo Lee, Yongsung Chang, Sun-Bin Kim
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260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2009
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300 |
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|a 33 pages
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651 |
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4 |
|a United States
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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 Current account
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653 |
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|a Short-term Capital Movements
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653 |
|
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|a Current account imbalances
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653 |
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|a Current Account Adjustment
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653 |
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|a Balance of payments
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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 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 Current account balance
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653 |
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|a Empirical Studies of Trade
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653 |
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|a International Investment
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700 |
1 |
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|a Chang, Yongsung
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700 |
1 |
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|a Kim, Sun-Bin
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041 |
0 |
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 |
0 |
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|a IMF Working Papers
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028 |
5 |
0 |
|a 10.5089/9781451874211.001
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856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/2009/276/001.2009.issue-276-en.xml?cid=23448-com-dsp-marc
|x Verlag
|3 Volltext
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082 |
0 |
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|a 330
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520 |
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|a 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
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