Hidden Bibliographic Details
| Other authors / contributors: | Kim, Sun-Bin, author.
Lee, Jaewoo, author.
International Monetary Fund. Research Department.
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| ISBN: | 1462394094
9781462394098
1452738955
9781452738956
1282844636
9781282844636
1451874219
9781451874211
9786612844638
6612844639
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| Digital file characteristics: | data file
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| Notes: | Includes bibliographical references (pages 19-21).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2011.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2011 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | We undertake a quantitative analysis of the dispersion of current accounts in an open economy version of incomplete insurance model, incorporating important market frictions in trade and financial flows. Calibrated with conventional parameter values, the stochastic stationary equilibrium of the model with limited borrowing can account for about two-thirds of the global dispersion of current accounts. The easing of financial frictions can explain nearly all changes in the current account dispersion in the past four decades whereas the easing of trade frictions has almost no impact on the current account dispersion.
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| Other form: | Print version: Chang, Yongsung, 1966- Accounting for global dispersion of current accounts. [Washington, D.C.] : International Monetary Fund, ©2009
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