Paul R. Gregory Replies

Slavic Review ◽  
1981 ◽  
Vol 40 (2) ◽  
pp. 267-268
Keyword(s):  
Foreign Policy ◽  
Current Account ◽  
Current Account Deficit ◽  
Policy Implications ◽  
Current Deficit ◽  
A Current ◽  
Do So ◽  
The Current Account

In my note, I maintained that Russia ran a current deficit during the industrialization era and that Russian trade statistics were not biased in the directions suggested by Sontag. 1 refrained from making comments on the foreign policy implications of the current account deficit, as I did not feel qualified to do so.

scholarly journals Harberger-Laursen-Metzler Effect with Modified Becker-Mulligan Preference by Dynamic Optimization

2016 ◽  
Vol 2016 ◽  
pp. 1-8
Author(s):  
Deng-Shan Wang ◽  
Miao Jin ◽  
Zeng-Gang Guo
Keyword(s):  
Current Account ◽  
Time Preference ◽  
Current Account Deficit ◽  
Terms Of Trade ◽  
Planning Period ◽  
Trade Shocks ◽  
Endogenous Time Preference ◽  
Theoretical Results ◽  
A Current ◽  
The Current Account

We investigate the effects of terms-of-trade shocks on the spending and current account where households with the modified Becker-Mulligan endogenous time preference maximize their utility over an infinite planning period. Our results show that, with the modified Becker-Mulligan preference, the effect of the deterioration in terms of trade on the current account depends on people’s characters. However, with the second preference we have considered, the deterioration in terms of trade will result in a current account deficit, which is the same as Obstfeld (1982), where households with Uzawa endogenous time preference are considered; deterioration in terms of trade leads to a decline in the current account. These theoretical results are consistent with the empirical evidence by numerical simulations.

scholarly journals Determinants of Current Account in Cases of Serbia and Romania: Time-Varying Parameters Approach

2019 ◽  
Vol 14 (1) ◽  
pp. 21-33 ◽  
Author(s):  
Mile Bošnjak
Keyword(s):  
Money Supply ◽  
Current Account ◽  
Current Account Deficit ◽  
Policy Implications ◽  
Series Data ◽  
Time Varying ◽  
Varying Parameters ◽  
Current Account Dynamics ◽  
Time Varying Parameters ◽  
The Current Account

Abstract Following competing theories, the paper brings the determinants of the Serbian and Romanian current account dynamics with policy implications. The research sample consists of quarterly time series data over the period 2004q1–2017q2 and 2007q1-2017q4 for the cases of Serbian and the Romanian case, respectively. The estimates from the state space model with time-varying parameters (TVP) approach suggest that role of domestic demand is significant in both cases even though more prominent in case of Serbia. Marshall-Lerner conditions were fulfilled in case of Serbia while not in the Romanian case. The effects of money supply on the current account is found to be in line with the monetary approach in case of Romania while in the Serbian case the effect of an increase in the money supply is positive. Consequently, to resolve the issue of the current account deficit the research findings suggest the country-specific policy mix for each country.

scholarly journals RECENT SCENARIO OF CURRENT ACCOUNT DEFICIT IN INDIA

2016 ◽  
Vol 4 (5SE) ◽  
pp. 106-112
Author(s):  
Yogambal N
Keyword(s):  
Current Account ◽  
Current Account Deficit ◽  
Current Scenario ◽  
Balance Of Trade ◽  
The Current Account

Current Account Deficit topic deals with the meaning, the overview of the concept related with current scenario of the balance of trade. Through this paper we can come to know Gross Domestic position till recent date and impact of current account deficit. Just it gives idea whether current account deficit really harmful or good sign. This paper reveals the evaluation of current account deficit and also, reflection in various ways and also the implications of the reversals. It was concluded with few ideas which were shared as the suggestions to overcome the current account deficit.Global trends were analysed to know our country status.

The Effects of Macroprudential Policies on Financial Stability in Developing Countries

2019 ◽  
pp. 92-114
Author(s):  
Sümeyra Gazel
Keyword(s):  
Developing Countries ◽  
Exchange Rate ◽  
Current Account ◽  
Financial Stability ◽  
Current Account Deficit ◽  
Common Factor ◽  
Policy Instruments ◽  
Credit Growth ◽  
Macroprudential Policies ◽  
The Current Account

In this chapter, the concept of financial instability is examined in terms of the policy instruments used by central banks. Although the policy instruments used in each country differ according to the country conditions, it is thought that the common factor among developing countries with a current account deficit problem is exchange rate volatility resulting from excessive credit growth and short-term capital movements. In this context, Argentina, Brazil, Chile, Colombia, Hungary, Indonesia, India, Mexico, Poland, South Africa, and Turkey are examined with regard to the effects of macroprudential policies on financial stability for the period between Q2 of 2006 and Q2 of 2017 by using the time-varying panel causality test developed by Dumitrescu and Hurlin. The results of the analysis indicate that excessive credit growth is a cause of the current account deficit. The same findings are also valid for interest rate. There is no obvious link between the exchange rate and the current account deficit.

scholarly journals Implications of the U.S. Current Account Deficit

1989 ◽  
Vol 3 (4) ◽  
pp. 153-165 ◽  
Author(s):  
David H Howard
Keyword(s):  
United States ◽  
Current Account ◽  
Current Account Deficit ◽  
Analytical Framework ◽  
The United States ◽  
Balance Of Payments ◽  
The World ◽  
The U.S ◽  
The Current Account

In 1988, the United States recorded a deficit of about $135 billion on the current account of its balance of payments with the rest of the world. This paper presents an analytical framework for thinking about the current account deficit, explores causes of the current account deficit, and discusses the United States as a debtor nation and the issue of sustainability.

Indonesia in 2013

Asian Survey ◽  
2014 ◽  
Vol 54 (1) ◽  
pp. 47-55 ◽  
Author(s):  
Geoffrey C. Gunn
Keyword(s):  
Economic Growth ◽  
Current Account ◽  
Current Account Deficit ◽  
Trading Partner ◽  
A Current ◽  
The U.S

Ahead of upcoming elections, expectations ran high in 2013 across the archipelago for a highly pluralistic electorate. With China as a leading trading partner, the backdrop for Indonesia was steady economic growth, albeit checked by a sliding currency, a current account deficit, and a depressing culture of corruption. Mixing commerce and geopolitics, China, the U.S., and Japan all turned to Indonesia to expand their influence.

Bhutan - Assessment Letter for the World Bank

Policy Papers ◽  
2012 ◽  
Vol 2012 (97) ◽  
Author(s):  
Keyword(s):  
World Bank ◽  
Current Account ◽  
Current Account Deficit ◽  
Gdp Growth ◽  
Medium Term ◽  
The World Bank ◽  
The World ◽  
The Current Account

Bhutan's growth has remained robust, but the current account deficit has widened. • Bhutan's economy has expanded at a robust pace driven by the hydropower sector developments. GDP growth is estimated at nearly 8 percent in 2011/12 (from 8.5 percent in 2010/11), and is projected to reach 12.5 percent in 2012/13 due to the acceleration in hydropower-related construction. Inflation has risen, reaching 13.5 percent in 2012Q2, with both food and nonfood components accelerating. Bhutan’s medium-term outlook is favorable, as growth should remain strong at around 8-9 percent over the medium term, driven by developments in the hydropower sector, manufacturing, and domestic services.

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