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the United States, the euro area, and Japan in the emergence and evolution of today's global trade imbalances. Simulation … developments in these economies can account for a significant fraction of the total deterioration in the U.S. trade balance since …
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Intro -- Contents -- I. INTRODUCTION -- II. THE MAIN STYLIZED FACTS: AGGREGATE DATA -- III. THE MAIN STYLIZED FACTS: BILATERAL DATA -- IV. CAPITAL FLOWS AND EXTERNAL ADJUSTMENT -- V. CONCLUDING REMARKS -- REFERENCES.
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