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Policy and Current Account Determination under Floating Exchange Rates

Author

Listed:
  • Hans Genberg

    (International Monetary Fund)

  • Alexander K. Swoboda

    (International Monetary Fund)

Abstract

The determinants of current account imbalances under floating exchange rates are analyzed. The analysis provides a framework within which the sources of, and the remedies for, the current account imbalances between the United States, Japan, and the Federal Republic of Germany can be discussed. The effects of various government policies are emphasized, in particular the differences between expenditure-changing and expenditure-switching policies. Short-run and long-run considerations are investigated, as well as the role played by expectations and price-level dynamics.

Suggested Citation

  • Hans Genberg & Alexander K. Swoboda, 1989. "Policy and Current Account Determination under Floating Exchange Rates," IMF Staff Papers, Palgrave Macmillan, vol. 36(1), pages 1-30, March.
    • Handle: RePEc:pal:imfstp:v:36:y:1989:i:1:p:1-30
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    Cited by:

    1. Zervoyianni, Athina, 1996. "Product-market openness and dynamic responses to exogenous shocks and policies in a two-country, two-goods model," International Review of Economics & Finance, Elsevier, vol. 5(3), pages 269-290.
    2. Francisco Nadal De Simone, 1997. "Current account and exchange rate behaviour under inflation targeting in a small open economy," Reserve Bank of New Zealand Discussion Paper Series G97/4, Reserve Bank of New Zealand.
    3. Jean Bensaïd & Dominique Bureau, 1990. "Autonomie des politiques monétaires, coordination des politiques budgétaires et contrainte extérieure," Économie et Prévision, Programme National Persée, vol. 94(3), pages 155-165.
    4. Patrick Artus & Éric Bleuze & François Lecointe, 1990. "Peut-on expliquer les mouvements du dollar ?," Revue Économique, Programme National Persée, vol. 41(6), pages 1027-1050.

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