Australia’s large external deficits appear sustainable. There are, however, risks associated with the resulting external debt that need continued careful management. These deficits, which largely reflect high investment rather than low saving, should be sustainable as long as the Australian economy, especially its exports, grow strongly. The associated accumulation...
Australia’s large external deficits appear sustainable. There are, however, risks associated with the resulting external debt that need continued careful management. These deficits, which largely reflect high investment rather than low saving, should be sustainable as long as the Australian economy, especially its exports, grow strongly. The associated accumulation...
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
The current account deficit by the Central Bank of Bosnia and Herzegovina in recent years has fluctuated to about 20 percent of GDP. But official current account statistics suffer from several shortcomings. Possible sources of the savings required to achieve a fiscal position consistent with long-term fiscal sustainability is discussed. A theoretical model of the t...
The current account deficit by the Central Bank of Bosnia and Herzegovina in recent years has fluctuated to about 20 percent of GDP. But official current account statistics suffer from several shortcomings. Possible sources of the savings required to achieve a fiscal position consistent with long-term fiscal sustainability is discussed. A theoretical model of the t...
We use a general-equilibrium model to explain the rise in global trade and payments imbalances since the mid-1990s, and then to construct adjustment paths to a steady state. Assuming that the shocks giving rise to the imbalances do not suddenly reverse, simulated movements in the U.S. trade deficit and exchange rate are smaller and more gradual than suggested by pa...
We use a general-equilibrium model to explain the rise in global trade and payments imbalances since the mid-1990s, and then to construct adjustment paths to a steady state. Assuming that the shocks giving rise to the imbalances do not suddenly reverse, simulated movements in the U.S. trade deficit and exchange rate are smaller and more gradual than suggested by pa...
This Selected Issues paper examines three areas of key policy importance for Greece in the coming years. The paper documents the loss of international competitiveness in recent years, as well as the accompanying widening of the current account deficit. It analyzes fiscal consolidation episodes in advanced economies, and confirms the conclusion found in the literatu...
This Selected Issues paper examines three areas of key policy importance for Greece in the coming years. The paper documents the loss of international competitiveness in recent years, as well as the accompanying widening of the current account deficit. It analyzes fiscal consolidation episodes in advanced economies, and confirms the conclusion found in the literatu...