International Capital Flows: Two Extensions of the MFTobin Model

Toichiro Asada, Peter Flaschel, Tarik Mouakil and Christian Proaño
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Toichiro Asada: Chuo University
Tarik Mouakil: University of Cambridge

Chapter 6 in Asset Markets, Portfolio Choice and Macroeconomic Activity, 2011, pp 128-157 from Palgrave Macmillan

Abstract: Abstract Over the last decade, the unprecedented increase in the internal and external imbalances of two of the largest economies in the world, the USA and China, has raised serious concerns about the stability of the world economy. Nevertheless, a correction of these imbalances by means of a significant readjustment concerning the US dollar does not seem very likely in the near future, due to a reluctance of some governments to deal with this issue. In light of this, national wage-price adjustments as well as foreign asset in- and out-flows have become important macroeconomic adjustment mechanisms.

Keywords: Exchange Rate; Central Bank; Real Exchange Rate; Money Supply; International Capital (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-30777-3_6

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DOI: 10.1057/9780230307773_6

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