Current account adjustment
some new theory and evidence
by Jiandong Ju
"This paper aims to provide a theory of current account adjustment that generalizes the textbook version of the intertemporal approach to current account and places domestic labor market institutions at the center stage. In general, in response to a shock, an economy adjusts through a combination of a change in the composition of goods trade (i.e., intra-temporal trade channel) and a change in the current account (i.e., intertemporal trade channel). The more rigid the labor market, the slower the speed of adjustment of the current account towards its long-run equilibrium. Three pieces of evidence are provided that are consistent with the theory"--National Bureau of Economic Research web site.
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Monetary policy| Edition | Availability |
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1
Current account adjustment: some new theory and evidence
2007, National Bureau of Economic Research
electronic resource :
in English
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Current account adjustment: some new theory and evidence
2007, National Bureau of Economic Research
in English
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Edition Notes
Title from PDF file as viewed on 9/20/2007.
Includes bibliographical references.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.
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| December 11, 2009 | Created by WorkBot | add works page |