Series: IMF Working Papers
Author(s): Guy Meredith
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 January 2007
Keywords: Debt Dynamics, International Adjustment, exchange rate, current account, real exchange rate, external debt, current account deficit, Forecasting and Other Model Applications, Consumer Economics: Theory, Macroeconomics: Consumption
We use a general-equilibrium model to explain the rise in global trade and payments imbalances since the mid-1990s, and then to construct adjustment paths to a steady state. Assuming that the shocks giving rise to...