Faithin Omaha eBook Collection

After widening substantially in the period preceding the global financial crisis, current account imbalances across the world have contracted to a significant e

This paper has two objectives. First, it reviews the recent dynamics of global imbalances (both “flow” and “stock” imbalances), with a special focus on

"Gross stocks of foreign assets have increased rapidly relative to national outputs since 1990, and the short-run capital gains and losses on those assets can a