"Accounting." . . "Accounting" . . . "Accounting for global dispersion of current accounts"@en . "Accounting for global dispersion of current accounts" . . . . . . . "Electronic resource" . . . . . . "We undertake a quantitative analysis of the dispersion of current accounts in an open economy version of incomplete insurance model, incorporating important market frictions in trade and financial flows. Calibrated with conventional parameter values, the stochastic stationary equilibrium of the model with limited borrowing can account for about two-thirds of the global dispersion of current accounts. The easing of financial frictions can explain nearly all changes in the current account dispersion in the past four decades whereas the easing of trade frictions has almost no impact on the curren."@en . . "We undertake a quantitative analysis of the dispersion of current accounts in an open economy version of incomplete insurance model, incorporating important market frictions in trade and financial flows. Calibrated with conventional parameter values, the stochastic stationary equilibrium of the model with limited borrowing can account for about two-thirds of the global dispersion of current accounts. The easing of financial frictions can explain nearly all changes in the current account dispersion in the past four decades whereas the easing of trade frictions has almost no impact on the current account dispersion."@en . . "Livres électroniques" . . . "Accounting for Global Dispersion of Current Accounts" . . "Accounting for Global Dispersion of Current Accounts"@en . . . . . . . . . . . . . . . . . . "Electronic books"@en . "Electronic books" . . . "International Monetary Fund" . . "Balance des paiements Modèles économétriques." . . . . "Chang, Yongsung" . . "Deficit financing." . . "Deficit financing" .