G2TT
来源类型Discussion paper
规范类型论文
来源IDDP1955
DP1955 Social Mobility and the Demand for Redistribution: the POUM Hypothesis
Roland Benabou; Efe A Ok
发表日期1998-08-31
出版年1998
语种英语
摘要This paper studies sharp reductions in current account deficits and large exchange rate depreciations in low- and middle-income countries. It examines which factors help predict the occurrence of a reversal or a currency crisis, and how these events affect macroeconomic performance. It finds that both domestic factors, such as the low reserves, and external factors, such as unfavourable terms of trade and high interest rates in industrial countries, trigger reversals and currency crises. The two types of events are, however, distinct; indeed, current account imbalances are not sharply reduced in the years following a currency crisis. Economic performance around these events is also quite different. An exchange rate crash is associated with a fall in output growth and a recovery thereafter, while for reversal events there is no systematic evidence of a growth slowdown.
主题International Macroeconomics
关键词Currency crisis Current account reversal Growth Openness Real exchange rate
URLhttps://cepr.org/publications/dp1955
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/531088
推荐引用方式
GB/T 7714
Roland Benabou,Efe A Ok. DP1955 Social Mobility and the Demand for Redistribution: the POUM Hypothesis. 1998.
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