International financial integration and the current account balance

This Economic Letter first reviews some predictions about the exchange rate implications of a return of the U.S. current account into balance. It then presents a recent study that considers the role of greater financial integration and the resulting importance of valuation effects. Finally, it evaluates the impact of valuation effects for those countries that have purchased the bulk of liabilities issued by the U.S. in recent years.

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Year of publication:	2006
Authors:	Cavallo, Michele
Published in:	FRBSF Economic Letter. - Federal Reserve Bank of San Francisco. - 2006, 14
Publisher:	Federal Reserve Bank of San Francisco
Subject:	Balance of payments \| International trade

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Extent:	text/html application/pdf
Type of publication:	Article
Language:	English
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005346761