(Why) should current account balances be reduced

IMF Economic Review

Volumn 60, Issue 1, 2012, Pages 139-150

  Blanchard, Olivier ^a   Milesi Ferretti, Gian Maria ^a  

^a INTERNATIONAL MONETARY FUND   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84858630861     PISSN: 20414161     EISSN: None     Source Type: Journal    
DOI: 10.1057/imfer.2012.2     Document Type: Review

References (12)

1. Bernanke, Ben S., Carol Bertaut, Laurie Pounder deMarco, and Steven Kamin, 2011, "International Capital Flows and the Returns to Safe Assets in the United States, 2003-2007," Federal Reserve Board International Finance Discussion Paper 1014, February.
2. Blanchard, Olivier, Mitali Das, and Hamid Faruqee, 2010, "The Initial Impact of the Crisis on Emerging Market Countries," Brookings Papers on Economic Activity (Spring), pp. 263-307.
3. Blanchard, Olivier, and Gian Maria Milesi-Ferretti, 2010, "Global Imbalances: In Midstream?," in Reconstructing the World Economy, ed. by Olivier Blanchard and Il SaKong (Washington: International Monetary Fund).
4. Caballero, Ricardo, and Guido Lorenzoni, 2007, "Persistent Appreciations and Overshooting: A Normative Analysis," NBER Working Paper 13077 (Cambridge, MA: National Bureau of Economic Research).
5. Catão, Luis, and Gian Maria Milesi-Ferretti, 2011, "External Liabilities and Crises," mimeo, International Monetary Fund. Council of Economic Advisers, 2009, "Economic Report of the President," January.
6. Eichengreen, Barry, and Jeffrey Sachs, 1985, "Exchange Rates and Economic Recovery in the 1930s," Journal of Economic History, Vol. 45, pp. 925-46.
7. International Monetary Fund, 2007, "Staff Report on the Multilateral Consultation on Global Imbalances with China, the Euro Area, Japan, Saudi Arabia, and the United States," www.imf.org/external/np/pp/2007/eng/062907. pdf.
8. Kaminsky, Graciela L., and Carmen M. Reinhart, 1999, "The Twin Crises: The Causes of Banking and Balance-of-Payments Problems," American Economic Review, Vol. 89, No. 3, pp. 473-500.
9. Korinek, Anton, 2010, "Regulating Capital Flows to Emerging Markets: An Externality View," unpublished (University of Maryland, May).
10. Lane, Philip R., and Gian Maria Milesi-Ferretti, 2011, "The Cross-Country Incidence of the Global Crisis," IMF Economic Review, Vol. 59, No. 1 (April), pp. 77-110.
11. Mateos y, Lago Isabelle, Rupa Duttagupta, and Rishi Goyal, 2009, The Debate on the International Monetary System, IMF Staff Position Note 09/26 (Washington: International Monetary Fund).
12. Obstfeld, Maurice, and Kenneth Rogoff, 2010, "Global Imbalances and the Financial Crisis: Products of Common Causes," in Asia Economic Policy Conference Volume, ed. by Reuven Glick and Mark M. Spiegel (San Francisco: Federal Reserve Bank of San Francisco).