A New Meaure of the Korean Current Account

Eric Fisher () and YoungSoo Woo
Additional contact information
YoungSoo Woo: Cornell University

International Finance from EconWPA

Abstract: We apply Fisher's (1994) concept of the aggregate generational current account to data from the Republic of Korea in the post-war era. A generation's net foreign assets is the present value of its expected net transfers from abroad, and the aggregate generational current account is the annual change in the sum of these accounts across all current and future generations. Although the conventional measure of the Korean current account shows a chronic deficit during this era, our measure indicates that expected military and economic transfers from abroad have actually created long periods of aggregate generational current account surpluses. Also, the aggregate generational current account is more volatile than the conventional current account for Korea.

JEL-codes: F3 F4 (search for similar items in EconPapers)
Date: 1994-11-07
Note: 22 pages
View list of references View citations in EconPapers

Downloads: (external link)
http://129.3.20.41/eps/if/papers/9411/9411001.pdf (application/pdf)
http://129.3.20.41/eps/if/papers/9411/9411001.ps.gz (application/postscript)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:wpa:wuwpif:9411001

Access Statistics for this paper

More papers in International Finance from EconWPA
Series data maintained by EconWPA ().