Are Global Imbalances Sustainable?: Post-Crisis Scenarios
This paper assesses the sustainability of global imbalances by testing for the presence of unit roots in the current account positions (measured in relation to GDP) of the United States, China, Japan, Germany and the oil-exporting countries using a methodology that allows for structural breaks in le...
Gespeichert in:
| Beteilige Person: | |
|---|---|
| Weitere beteiligte Personen: | |
| Format: | Elektronisch E-Book |
| Sprache: | Englisch |
| Veröffentlicht: |
Paris
OECD Publishing
2010
|
| Schriftenreihe: | OECD Economics Department Working Papers
|
| Schlagwörter: | |
| Links: | https://doi.org/10.1787/5kmbjh9p4jtc-en |
| Zusammenfassung: | This paper assesses the sustainability of global imbalances by testing for the presence of unit roots in the current account positions (measured in relation to GDP) of the United States, China, Japan, Germany and the oil-exporting countries using a methodology that allows for structural breaks in levels and trends. We find that the external positions of these major countries/regions are stationary around structural breaks, which define episodes of current account reversals. On the basis of an event analysis of past reversals, it appears that structural breaks are associated with shifts in the fiscal stance, exchange rate parities and potential output growth, a finding that underscores the scope for macroeconomic and structural policies to ensure the sustainability of external positions while avoiding potentially disruptive reversals. These findings have implications for long-term capital flows after the crisis |
| Umfang: | 1 Online-Ressource (32 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/5kmbjh9p4jtc-en |
Internformat
MARC
| LEADER | 00000nam a2200000zc 4500 | ||
|---|---|---|---|
| 001 | BV047931800 | ||
| 003 | DE-604 | ||
| 007 | cr|uuu---uuuuu | ||
| 008 | 220413s2010 xx o|||| 00||| eng d | ||
| 024 | 7 | |a 10.1787/5kmbjh9p4jtc-en |2 doi | |
| 035 | |a (ZDB-13-SOC)061315699 | ||
| 035 | |a (OCoLC)1312693284 | ||
| 035 | |a (DE-599)BVBBV047931800 | ||
| 040 | |a DE-604 |b ger |e aacr | ||
| 041 | 0 | |a eng | |
| 049 | |a DE-384 |a DE-91 |a DE-473 |a DE-824 |a DE-29 |a DE-739 |a DE-355 |a DE-20 |a DE-1028 |a DE-1049 |a DE-188 |a DE-521 |a DE-861 |a DE-898 |a DE-92 |a DE-573 |a DE-19 | ||
| 100 | 1 | |a de Mello, Luiz |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Are Global Imbalances Sustainable? |b Post-Crisis Scenarios |c Luiz de Mello and Pier Carlo Padoan = Les déséquilibres mondiaux sont-ils soutenables ? : Les scénarios d'après la crise / Luiz de Mello et Pier Carlo Padoan |
| 246 | 1 | 3 | |a Les déséquilibres mondiaux sont-ils soutenables ? |
| 264 | 1 | |a Paris |b OECD Publishing |c 2010 | |
| 300 | |a 1 Online-Ressource (32 Seiten) |c 21 x 29.7cm | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b c |2 rdamedia | ||
| 338 | |b cr |2 rdacarrier | ||
| 490 | 0 | |a OECD Economics Department Working Papers | |
| 520 | |a This paper assesses the sustainability of global imbalances by testing for the presence of unit roots in the current account positions (measured in relation to GDP) of the United States, China, Japan, Germany and the oil-exporting countries using a methodology that allows for structural breaks in levels and trends. We find that the external positions of these major countries/regions are stationary around structural breaks, which define episodes of current account reversals. On the basis of an event analysis of past reversals, it appears that structural breaks are associated with shifts in the fiscal stance, exchange rate parities and potential output growth, a finding that underscores the scope for macroeconomic and structural policies to ensure the sustainability of external positions while avoiding potentially disruptive reversals. These findings have implications for long-term capital flows after the crisis | ||
| 650 | 4 | |a Economics | |
| 700 | 1 | |a Padoan, Pier Carlo |4 ctb | |
| 856 | 4 | 0 | |u https://doi.org/10.1787/5kmbjh9p4jtc-en |x Verlag |z kostenfrei |3 Volltext |
| 912 | |a ZDB-13-SOC | ||
| 943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-033313293 | |
Datensatz im Suchindex
| DE-BY-TUM_katkey | 2628162 |
|---|---|
| _version_ | 1821934693796282369 |
| adam_text | |
| any_adam_object | |
| author | de Mello, Luiz |
| author2 | Padoan, Pier Carlo |
| author2_role | ctb |
| author2_variant | p c p pc pcp |
| author_facet | de Mello, Luiz Padoan, Pier Carlo |
| author_role | aut |
| author_sort | de Mello, Luiz |
| author_variant | m l d ml mld |
| building | Verbundindex |
| bvnumber | BV047931800 |
| collection | ZDB-13-SOC |
| ctrlnum | (ZDB-13-SOC)061315699 (OCoLC)1312693284 (DE-599)BVBBV047931800 |
| discipline | Wirtschaftswissenschaften |
| doi_str_mv | 10.1787/5kmbjh9p4jtc-en |
| format | Electronic eBook |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>00000nam a2200000zc 4500</leader><controlfield tag="001">BV047931800</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="007">cr|uuu---uuuuu</controlfield><controlfield tag="008">220413s2010 xx o|||| 00||| eng d</controlfield><datafield tag="024" ind1="7" ind2=" "><subfield code="a">10.1787/5kmbjh9p4jtc-en</subfield><subfield code="2">doi</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(ZDB-13-SOC)061315699</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)1312693284</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV047931800</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">aacr</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-384</subfield><subfield code="a">DE-91</subfield><subfield code="a">DE-473</subfield><subfield code="a">DE-824</subfield><subfield code="a">DE-29</subfield><subfield code="a">DE-739</subfield><subfield code="a">DE-355</subfield><subfield code="a">DE-20</subfield><subfield code="a">DE-1028</subfield><subfield code="a">DE-1049</subfield><subfield code="a">DE-188</subfield><subfield code="a">DE-521</subfield><subfield code="a">DE-861</subfield><subfield code="a">DE-898</subfield><subfield code="a">DE-92</subfield><subfield code="a">DE-573</subfield><subfield code="a">DE-19</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">de Mello, Luiz</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Are Global Imbalances Sustainable?</subfield><subfield code="b">Post-Crisis Scenarios</subfield><subfield code="c">Luiz de Mello and Pier Carlo Padoan = Les déséquilibres mondiaux sont-ils soutenables ? : Les scénarios d'après la crise / Luiz de Mello et Pier Carlo Padoan</subfield></datafield><datafield tag="246" ind1="1" ind2="3"><subfield code="a">Les déséquilibres mondiaux sont-ils soutenables ?</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Paris</subfield><subfield code="b">OECD Publishing</subfield><subfield code="c">2010</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 Online-Ressource (32 Seiten)</subfield><subfield code="c">21 x 29.7cm</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">OECD Economics Department Working Papers</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">This paper assesses the sustainability of global imbalances by testing for the presence of unit roots in the current account positions (measured in relation to GDP) of the United States, China, Japan, Germany and the oil-exporting countries using a methodology that allows for structural breaks in levels and trends. We find that the external positions of these major countries/regions are stationary around structural breaks, which define episodes of current account reversals. On the basis of an event analysis of past reversals, it appears that structural breaks are associated with shifts in the fiscal stance, exchange rate parities and potential output growth, a finding that underscores the scope for macroeconomic and structural policies to ensure the sustainability of external positions while avoiding potentially disruptive reversals. These findings have implications for long-term capital flows after the crisis</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Economics</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Padoan, Pier Carlo</subfield><subfield code="4">ctb</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="u">https://doi.org/10.1787/5kmbjh9p4jtc-en</subfield><subfield code="x">Verlag</subfield><subfield code="z">kostenfrei</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC</subfield></datafield><datafield tag="943" ind1="1" ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-033313293</subfield></datafield></record></collection> |
| id | DE-604.BV047931800 |
| illustrated | Not Illustrated |
| indexdate | 2025-01-11T15:45:32Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-033313293 |
| oclc_num | 1312693284 |
| open_access_boolean | 1 |
| owner | DE-384 DE-91 DE-BY-TUM DE-473 DE-BY-UBG DE-824 DE-29 DE-739 DE-355 DE-BY-UBR DE-20 DE-1028 DE-1049 DE-188 DE-521 DE-861 DE-898 DE-BY-UBR DE-92 DE-573 DE-19 DE-BY-UBM |
| owner_facet | DE-384 DE-91 DE-BY-TUM DE-473 DE-BY-UBG DE-824 DE-29 DE-739 DE-355 DE-BY-UBR DE-20 DE-1028 DE-1049 DE-188 DE-521 DE-861 DE-898 DE-BY-UBR DE-92 DE-573 DE-19 DE-BY-UBM |
| physical | 1 Online-Ressource (32 Seiten) 21 x 29.7cm |
| psigel | ZDB-13-SOC |
| publishDate | 2010 |
| publishDateSearch | 2010 |
| publishDateSort | 2010 |
| publisher | OECD Publishing |
| record_format | marc |
| series2 | OECD Economics Department Working Papers |
| spellingShingle | de Mello, Luiz Are Global Imbalances Sustainable? Post-Crisis Scenarios Economics |
| title | Are Global Imbalances Sustainable? Post-Crisis Scenarios |
| title_alt | Les déséquilibres mondiaux sont-ils soutenables ? |
| title_auth | Are Global Imbalances Sustainable? Post-Crisis Scenarios |
| title_exact_search | Are Global Imbalances Sustainable? Post-Crisis Scenarios |
| title_full | Are Global Imbalances Sustainable? Post-Crisis Scenarios Luiz de Mello and Pier Carlo Padoan = Les déséquilibres mondiaux sont-ils soutenables ? : Les scénarios d'après la crise / Luiz de Mello et Pier Carlo Padoan |
| title_fullStr | Are Global Imbalances Sustainable? Post-Crisis Scenarios Luiz de Mello and Pier Carlo Padoan = Les déséquilibres mondiaux sont-ils soutenables ? : Les scénarios d'après la crise / Luiz de Mello et Pier Carlo Padoan |
| title_full_unstemmed | Are Global Imbalances Sustainable? Post-Crisis Scenarios Luiz de Mello and Pier Carlo Padoan = Les déséquilibres mondiaux sont-ils soutenables ? : Les scénarios d'après la crise / Luiz de Mello et Pier Carlo Padoan |
| title_short | Are Global Imbalances Sustainable? |
| title_sort | are global imbalances sustainable post crisis scenarios |
| title_sub | Post-Crisis Scenarios |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/5kmbjh9p4jtc-en |
| work_keys_str_mv | AT demelloluiz areglobalimbalancessustainablepostcrisisscenarios AT padoanpiercarlo areglobalimbalancessustainablepostcrisisscenarios AT demelloluiz lesdesequilibresmondiauxsontilssoutenables AT padoanpiercarlo lesdesequilibresmondiauxsontilssoutenables |