International adjustment and rebalancing of global demand:where do we stand?

Yannick Kalantzis, Pascal Towbin and Soledad Zignago

Quarterly selection of articles - Bulletin de la Banque de France, 2014, issue 33, 5-23

Abstract: During the financial crisis, the global economy experienced a collapse in cross-border capital flows and a rapid adjustment of global imbalances. One of the striking features of this adjustment is its asymmetric nature:domestic demand declined in countries with a current account deficit,but only rose slightly in surplus economies.

Keywords: global imbalances; capital flows; asymmetric adjustment (search for similar items in EconPapers)
JEL-codes: E21 F32 G15 (search for similar items in EconPapers)
Date: 2014
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Related works:
Journal Article: Ajustement international et rééquilibrage de la demande mondiale: où en sommes-nous ? (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:bfr:quarte:2014:33:01

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