Gnimassoun, Blaise; Mignon, Valérie - Centre d'études prospectives et d'informations … - 2013
This paper aims at investigating the interactions between three key macroeconomic imbalances, namely Global imbalances,current-account … macroeconomic imbalances strongly interact through a causal relationship. We evidence that if current-account disequilibria threaten …: positive output-gap shocks as well as currency overvaluation deepen current-account deficits. In addition, while variations in …