 | Mr.Jacob A. Frenkel, Mr.Morris Goldstein - 1991 - 534 pages
...public policy issue of the appropriate fiscal policy does arise.7 It follows that an increase in a current account deficit that results from a shift...sector behavior — a rise in investment or a fall 6See, especially, Bruce and Purvis (1985, pp. 844-54), Frenkel and Razin (1987), Obstfeld (1987), Stockman... | |
 | Warner Max Corden - 1994 - 342 pages
...a public policy issue of the appropriate fiscal policy does arise. It follows that an increase in a current account deficit that results from a shift...savings — should not be a matter of concern at all. In the United States in the 1980s there was widespread confusion as to whether the problem (if any)... | |
 | Alison Harwood, Robert E. Litan, Michael Pomerleano - 2010 - 430 pages
...respond to private sector decisions. According to the extreme version of this new view, "An inctease in the current account deficit that results from a...in savings — should not be a matter of concern at all."S' As mentioned in the preceding section, in the aftermath of the Mexican ctisis many analysts... | |
 | Sebastian Edwards, Jeffrey A. Frankel - 2009 - 783 pages
...of fiscal imbalances and those that respond to private sector decisions. According to the new view, "an increase in the current account deficit that results...savings — should not be a matter of concern at all" (Corden 1994, 92, emphasis added). The eruption of the debt crisis in 1982 suggested that some of the... | |
 | Raghbendra Jha - 2003 - 518 pages
...agents themselves, unless there are government-imposed distortions. It follows that an increase in a current account deficit that results from a shift in private sector behavior should not be a matter of concern at all. On the other hand, the public budget balance is a matter... | |
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It follows that an increase in a current account deficit that results from a shift in private sector behavior — a rise in investment or a fall in savings — should not be a matter of concern at all. 