Title: International financial integration and the current account balance
Abstract: This Economic Letter first reviews some predictions about the exchange rate implications of a return of the U.S. current account into balance. It then presents a recent study that considers the role of greater financial integration and the resulting importance of valuation effects. Finally, it evaluates the impact of valuation effects for those countries that have purchased the bulk of liabilities issued by the U.S. in recent years.
Publication Year: 2006
Publication Date: 2006-01-01
Language: en
Type: article
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Cited By Count: 1
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