Kilian, Lutz (contributor); Rebucci, Alessandro (contributor) - 2007
perfect capital mobility.
2
Under financial autarky, by definition, external
current-account imbalances cannot emerge in … response to oil price shocks. Under perfect capital
mobility, in contrast, the intertemporal approach to the current account … price shocks on external accounts.
2
Perfect capital mobility is consistent with financial market incompleteness in the …