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Current-account Sustainability
Gian Maria Milesi-FerrettiAssaf Razin
出版International Finance Section, Princeton University, 1996
主題Business & Economics / Accounting / GeneralBusiness & Economics / International / GeneralBusiness & Economics / Public FinanceBusiness & Economics / International / Economics & TradePolitical Science / Public Policy / Economic Policy
ISBN08816525399780881652536
URLhttp://books.google.com.hk/books?id=Ij4fAQAAIAAJ&hl=&source=gbs_api
註釋This study presents a notion of current-account sustainability that explicitly considers, in addition to intertemporal solvency, a willingness to pay and to lend. It argues that this notion of sustainability provides a useful framework for understanding the variety of country experiences with protracted current-account imbalances. Based on this notion, the authors identify a number of potential sustainability indicators related to the structure of the economy and the economic policy stance. They use these indicators in the evaluation of the experience of a number of countries that have run persistent current-account imbalances and ask whether they help to discriminate between countries that underwent an external crisis and those that did not.