Sustainability of Persistent Current Account Deficits PDF Download

Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Sustainability of Persistent Current Account Deficits PDF full book. Access full book title Sustainability of Persistent Current Account Deficits by Gian Maria Milesi-Ferretti. Download full books in PDF and EPUB format.

Sustainability of Persistent Current Account Deficits

Sustainability of Persistent Current Account Deficits PDF Author: Gian Maria Milesi-Ferretti
Publisher:
ISBN:
Category : Budget deficits
Languages : en
Pages : 46

Book Description
This paper puts forward a notion of current account sustainability that explicitly takes into account willingness to pay and willingness to lend in addition to intertemporal solvency. It argues that this notion of sustainability provides a better framework for understanding the variety of country experiences with protracted current account imbalances. Based on this notion, we identify a number of operational indicators related to the structure of the economy, the economic policy stance, and political economy factors. We use these sustainability indicators to evaluate the experience of a number of countries that ran persistent current account imbalances, and derive policy implications consistent with our notion of sustainability.
➤