Budget Deficits, Trade Deficits, and Global Capital Flows: The National Savings Identity

Farrokh K. Langdana ()
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Farrokh K. Langdana: Rutgers University

Chapter Chapter 3 in Macroeconomic Policy, 2009, pp 23-46 from Springer

Abstract: Abstract In this cornerstone chapter, the vitally important National Savings Identity (NSI), linking trade and budget balances to global capital flows, interest rates, and exchange rates, makes its first appearance. In many ways, this chapter, linking the “twin deficits“ in a fundamentally intuitive manner, sets the tone for macroeconomic policies to be discussed in following chapters.

Keywords: Interest Rate; Central Bank; Current Account; Budget Deficit; Capital Inflow (search for similar items in EconPapers)
Date: 2009
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DOI: 10.1007/978-0-387-77666-8_3

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