کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
968953 | 931686 | 2006 | 12 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Twin deficits in the G-7 countries and global structural imbalances
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موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
According to open economy macroeconomics, a government budget deficit leads to a current account deficit. The link is as follows: a budget deficit leads to an increase in the real domestic interest rate; this attracts foreign capital and results in an appreciation of the domestic currency, which leads to a current account (imports plus net transfers abroad, minus exports) deficit. Thus, the entire current account deficit and part of the budget deficit is financed by a net capital inflow. This paper reviews and extends the theoretical analysis of the “twin deficits” and then confirms this relationship empirically for the G-7 countries over the past three decades.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Policy Modeling - Volume 28, Issue 6, September 2006, Pages 701–712
Journal: Journal of Policy Modeling - Volume 28, Issue 6, September 2006, Pages 701–712
نویسندگان
Dominick Salvatore,