IDEAS home Printed from https://ideas.repec.org/a/fip/fedbcp/y2006n51x3.html
   My bibliography  Save this article

Comments on \\"Understanding global imbalances\\"

Author

Listed:
  • Guy Debelle

Abstract

In Australia, we debated the issue of sustainability of current account deficits extensively during the 1980s. A lot of the arguments that are being aired at the moment bear a striking similarity to the debate that occurred in Australia throughout the 1980s. Now, two decades on, by and large, the majority view of economists in Australia is very similar to that put forward in this excellent paper by Richard Cooper. Although it must be said that while most economists are relaxed about the current account, it still can engender a significant amount of fear amongst politicians and the public, almost the reverse of the situation in the US. The view reached in Australia is akin to the ?consenting adults? view of the Lawson doctrine, although it should be noted that this argument was made by John Pitchford and Max Corden quite some time before Lawson.

Suggested Citation

  • Guy Debelle, 2006. "Comments on \\"Understanding global imbalances\\"," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 51.
    • Handle: RePEc:fip:fedbcp:y:2006:n:51:x:3
    as

    Download full text from publisher

    File URL: https://www.bostonfed.org/-/media/Documents/conference/51/conf51f.pdf
    Download Restriction: no
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedbcp:y:2006:n:51:x:3. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Spozio (email available below). General contact details of provider: https://edirc.repec.org/data/frbbous.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.