全球智库信息集成服务系统(G2TT): Current Account Adjustment: Some New Theory and Evidence

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w13388
来源ID	Working Paper 13388
	Current Account Adjustment: Some New Theory and Evidence
	Jiandong Ju; Shang-Jin Wei
发表日期	2007-09-12
出版年	2007
语种	英语
摘要	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.
主题	Macroeconomics ; International Economics ; International Finance ; International Macroeconomics
URL	https://www.nber.org/papers/w13388
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/571060
推荐引用方式 GB/T 7714	Jiandong Ju,Shang-Jin Wei. Current Account Adjustment: Some New Theory and Evidence. 2007.