Gnimassoun, Blaise; Mignon, Valérie - EconomiX, Université Paris Ouest-Nanterre la Défense … - 2013
This paper aims at studying current-account imbalances by paying a particular attention to exchange-rate misalignments …. We rely on a nonlinear model linking the persistence of current-account imbalances to the deviation of the exchange rate … countries, we show that persistence of current-account imbalances strongly depends on currency misalignments. More specifically …