Chinn, Menzie D.; Lee, Jaewoo - In: Japan and the World Economy 21 (2009) 2, pp. 202-212
Three current account imbalances - one very large deficit (the United States) and two surpluses (Japan and the Euro … down. For the Euro area, less than half a percentage point of its current account surplus is found to require an adjustment … area) - are subjected to a minimalist structural interpretation. Though simple, this interpretation enables us to assess …