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Global imbalances and exchange rate adjustment

Authors
Journal
Journal of Policy Modeling
0161-8938
Publisher
Elsevier
Publication Date
Volume
28
Issue
6
Identifiers
DOI: 10.1016/j.jpolmod.2006.06.009
Keywords
  • Current Account Imbalance
  • Global Imbalance
  • Exchange Rate Adjustment

Abstract

Abstract An eventual adjustment of the outsized US current account deficit is likely to have significant impact on global exchange rates unless it occurs only over a very long period. Policy responses aimed at reducing the risk of a recession are warranted, but they will not necessarily avoid the exchange rate adjustment.

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