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Patterns of Current Account Adjustment—Insights from Past Experience

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  • Bernardina Algieri

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  • Thierry Bracke

    ()

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    Abstract

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    File URL: http://hdl.handle.net/10.1007/s11079-009-9126-8
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    Bibliographic Info

    Article provided by Springer in its journal Open Economies Review.

    Volume (Year): 22 (2011)
    Issue (Month): 3 (July)
    Pages: 401-425

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    Handle: RePEc:kap:openec:v:22:y:2011:i:3:p:401-425

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    Web page: http://www.springerlink.com/link.asp?id=100323

    Related research

    Keywords: External imbalances; Current account adjustment; Cluster analysis; Multinomial logit; Expenditure switching; Expenditure reduction; F32; C14; C25;

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    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Leo de Haan & Hubert Schokker & Anastassia Tcherneva, 2008. "What Do Current Account Reversals in OECD Countries Tell Us About the US Case?," The World Economy, Wiley Blackwell, vol. 31(2), pages 286-311, 02.
    2. Carmen M. Reinhart & Kenneth S. Rogoff, 2002. "The Modern History of Exchange Rate Arrangements: A Reinterpretation," NBER Working Papers 8963, National Bureau of Economic Research, Inc.
    3. Caroline Freund & Frank Warnock, 2007. "Current Account Deficits in Industrial Countries: The Bigger They Are, The Harder They Fall?," NBER Chapters, in: G7 Current Account Imbalances: Sustainability and Adjustment, pages 133-168 National Bureau of Economic Research, Inc.
    4. Gian Maria Milesi-Ferrett & Assaf Razin, 1998. "Current Account Reversals and Currency Crises: Empirical Regularities," NBER Working Papers 6620, National Bureau of Economic Research, Inc.
    5. Barry Eichengreen & Muge Adalet, 2005. "Current Account Reversals: Always a Problem?," NBER Working Papers 11634, National Bureau of Economic Research, Inc.
    6. Rogoff, Kenneth, 2007. "Global imbalances and exchange rate adjustment," Journal of Policy Modeling, Elsevier, vol. 29(5), pages 705-709.
    7. Adalid, Ramón & Detken, Carsten, 2007. "Liquidity shocks and asset price boom/bust cycles," Working Paper Series 0732, European Central Bank.
    8. Richard H. Clarida, 2007. "G7 Current Account Imbalances: Sustainability and Adjustment," NBER Books, National Bureau of Economic Research, Inc, number clar06-2, May.
    9. Detken, Carsten & Smets, Frank, 2004. "Asset price booms and monetary policy," Working Paper Series 0364, European Central Bank.
    10. Caroline L. Freund, 2000. "Current account adjustment in industrialized countries," International Finance Discussion Papers 692, Board of Governors of the Federal Reserve System (U.S.).
    11. Gabriele Galati & Guy Debelle, 2005. "Current account adjustment and capital flows," BIS Working Papers 169, Bank for International Settlements.
    12. Hilary Croke & Steven B. Kamin & Sylvain Leduc, 2005. "Financial market developments and economic activity during current account adjustments in industrial economies," International Finance Discussion Papers 827, Board of Governors of the Federal Reserve System (U.S.).
    13. Small, Kenneth A & Hsiao, Cheng, 1985. "Multinomial Logit Specification Tests," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 26(3), pages 619-27, October.
    14. Hausman, Jerry & McFadden, Daniel, 1984. "Specification Tests for the Multinomial Logit Model," Econometrica, Econometric Society, vol. 52(5), pages 1219-40, September.
    15. Kenza Benhima & Olena Havrylchyk, 2006. "Current Account Reversals and Long Term Imbalances: Application to the Central and Eastern European Countries," Working Papers 2006-27, CEPII research center.
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    Cited by:
    1. Blaise Gnimassoun & Valérie Mignon, 2013. "How Macroeconomic Imbalances Interact? Evidence from a Panel VAR Analysis," Working Papers 2013-42, CEPII research center.
    2. Kappler, Marcus & Reisen, Helmut & Schularick, Moritz & Turkisch, Edouard, 2011. "The macroeconomic effects of large exchange rate appreciations," ZEW Discussion Papers 11-016, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.

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