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Record Nr. |
UNINA9910813303303321 |
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Autore |
Lanau Sergi |
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Titolo |
Financial regulation and the current account / / prepared by Sergi Lanau, Tomasz Wieladek |
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Pubbl/distr/stampa |
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[Washington, D.C], : International Monetary Fund, Strategy, Policy and Review Department, [2012] |
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ISBN |
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1-4755-4443-X |
1-4755-7854-7 |
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Edizione |
[1st ed.] |
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Descrizione fisica |
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1 online resource (53 p.) |
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Collana |
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IMF working paper ; ; WP/12/98 |
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Altri autori (Persone) |
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Disciplina |
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Soggetti |
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Balance of payments - Mathematical models |
Fiscal policy - Mathematical models |
Finance, Public - Econometric models |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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Cover; Contents; I. Introduction; II. Theory; A. How does financial regulation affect the response of the current account to output shocks?; III. Empirical methodology and data; A. General methodology; B. Identification of net output shocks; Tables; 1. Sign restrictions; C. Estimation and inference; D. Data; IV. Empirical results; 2. Country sample; A. Robustness; V. Conclusion; References; Appendix; A. Appendix; A.1. Deriving the linearized budget constraint; A.2. Derivation of the current account reaction function with external habits and a constant world real interest rate |
A.3. Derivation of the current account reaction function with internal habits and a constant world real interest rate A.4. Derivation of the current account reaction function under a stochastic time-varying world real interest rate and no habitual consumption; Figures; 1. Size of current account imbalances; 2. Financial deregulation index; 3. Current account persistence; 4. Impulse response functions to log level net output shock - financial regulation; 5. Impulse response functions to log difference net output shock - financial regulation |
6. Impulse response functions to log level net output shock - capital account openness 7. Impulse response functions to log difference net output shock - capital account openness; 8. Impulse response |
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